JAMB - Economics (2024 - No. 1)
Which of the following is not emphasized in a product possibility curve?
Scarcity of resources
Unemployment of labour
Inefficiency in the use of resources
Economic development
توضیح
A product possibility curve, also known as a production possibility frontier or curve, illustrates the different combinations of goods or services that an economy can produce given its available resources and technology. It shows the trade-off between producing one good/service over another.