JAMB - Economics (2022 - No. 45)
Which of the following is not emphasized in a product possibility curve?
Scarcity of resources
Economic development
Inefficiency in the use of resources
Unemployment of labour
Spiegazione
Production possibility curve does not emphasized on unemployment of labour. It explain scarce of resources, economic development and inefficiency in the use of resources. The ppc is explained using the concept of scarcity, choice and opportunity cost.