Examlex
Which of the following does not determine the position and shape of a society's PPF?
Black Market
An illegal trade of goods or services that are not sanctioned by the authority, often to avoid taxes or because the goods are prohibited.
Gray Market
involves the trade of legal goods through unauthorized, unofficial, or unintended channels, usually not illegal but discouraged by manufacturers.
Resource Market
The marketplace where resources or inputs (like labor, capital, and raw materials) used to produce goods and services are bought and sold.
Excess Burden
Refers to the cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.
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