All the combinations of goods and services that can be produced if all of society's resources are used efficiently are represented on an economy's
A. resource availability diagram.
B. factors of production statement.
C. allocative allotment graph.
D. production possibility frontier.
Answer: D
You might also like to view...
The price elasticity of demand for a linear demand curve follows the pattern (moving from high prices to low prices):
a. elastic, unit elastic, inelastic. b. unit elastic, inelastic, elastic. c. inelastic, unit elastic, elastic. d. elastic, inelastic, unit elastic.
A downward-sloping demand curve shows:
a. the direct relationship between price and quantity supplied; as price increases, the quantity supplied increases. b. the inverse relationship between price and quantity supplied; as price increases, the quantity supplied decreases. c. the direct relationship between price and quantity demanded; as price increases, the quantity demanded increases. d. the inverse relationship between price and quantity demanded; as price increases, the quantity demanded decreases.