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11 Dec 2019
When an economy is operating inside its production possibilities frontier, we know that
1.There are unused resources or inefficiencies in the economy
2.All of the economy's resources are fully employed
3.Economic growth would have to occur in order for the economy to move to a point on the frontier
4.In order to produce more of one good, the economy would have to give up some of the other good.
When an economy is operating inside its production possibilities frontier, we know that
1.There are unused resources or inefficiencies in the economy
2.All of the economy's resources are fully employed
3.Economic growth would have to occur in order for the economy to move to a point on the frontier
4.In order to produce more of one good, the economy would have to give up some of the other good.
Sonal BahlLv10
29 Sep 2020
