
Production Possibilities Curve
Authored by Matt Duggin
Financial Education
12th Grade
Used 15+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the production possibilities curve illustrate?
The law of demand
The concept of scarcity
The concept of elasticity
The law of supply
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a point inside the production possibilities curve indicate?
Unattainable combination
Economic growth
Underutilization of resources
Efficiency
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a bowed out production possibilities curve indicate?
No opportunity cost
Constant opportunity cost
Increasing opportunity cost
Decreasing opportunity cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a straight line production possibilities curve indicate?
Constant opportunity cost
Increasing opportunity cost
Decreasing opportunity cost
No opportunity cost
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a point outside the production possibilities curve indicate?
Underutilization of resources
Efficiency
Economic growth
Unattainable combination
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What causes the production possibilities curve to shift?
No change in resources
Decrease in resources
Increase in resources
Decrease in technology
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a combination on the production possibilities curve indicate?
Economic growth
Underutilization of resources
Full employment
Unemployment
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