Asked by
Pallavi Verma
on Oct 09, 2024Verified
Which of the following will enable a nation to obtain a combination of consumer goods and capital goods outside its production possibilities curve?
A) Full employment.
B) International specialization and trade.
C) Full production.
D) Productive efficiency.
Production Possibilities Curve
A graph that shows the combinations of two goods that can be produced using all available resources and technology efficiently.
International Specialization
The economic strategy where countries focus on the production and export of goods and services that they can produce most efficiently.
Full Employment
An economic condition where all available labor resources are being used in the most efficient way possible, typically signifying a very low unemployment rate.
- Fathom the situations enabling an economy to reach beyond its production capabilities curve through involvement in worldwide trading activities.
Verified Answer
HE
Learning Objectives
- Fathom the situations enabling an economy to reach beyond its production capabilities curve through involvement in worldwide trading activities.