Where Can an Economy Not Produce

question 4

Multiple Choice

Where can an economy not produce?

• A)inside its production possibilities frontier
• B)on its production possibilities frontier
• C)outside its production possibilities frontier
• D)at the endpoints of its production possibilities frontier

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Definitions:

Graphically

In a manner pertaining to the visual representation of data, equations, or functions on a coordinate system.

Intercept

A point where a line, curve, or surface intersects a coordinate axis.

Absolute Value

The absolute value of a number is its distance from zero on the number line, without considering which direction from zero the number lies, always yielding a non-negative result.

Sketch Graph

The act of drawing a rough outline or diagram of a graph, typically to illustrate behavior or solutions.