Points on the production possibilities frontier are ?
Correct answer: D. efficient
- A. inefficient
- B. normative
- C. unattainable
- D. efficient
Explanation
Every point on the production possibilities frontier represents productive efficiency because available resources are fully and efficiently used. Points inside are inefficient, while points outside are unattainable with current resources and technology.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
Practise Microeconomics
1,742 free Microeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Microeconomics questions
Economic growth is depicted by ?
In making which of the following statements is an economist acting more like a scientist ?
Which of the following statements about microeconomics and macroeconomics is not true ?
Which of the following is not a factor of production ?
Which of the following is most likely to produce scientific evidence about a theory ?
In which of the following cases is the assumption most reasonable ?