Question

What do points X, Y and Z indicate on the production possibility curve?

Answer 1

Explanation:

According to the PPF, points X ,Y, and Z– all appearing on the PPF curve – represent the most efficient use of resources by the economy. ... Point X represents an inefficient use of resources, while point Y represents the goals that the economy simply cannot attain with its present levels of resources.

Answer 2

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Lesson summary: Opportunity cost and the PPC

AP.MACRO: MOD‑1 (EU), MOD‑1.B (LO), MOD‑1.B.1 (EK), MOD‑1.B.2 (EK), MOD‑1.B.3 (EK), MOD‑1.B.4 (EK), MOD‑1.B.5 (EK)

In this lesson summary, review the key concepts, key terms, and key graphs for understanding opportunity cost and the production possibilities curve.