Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Question:

Which of the following statements is correct regarding the production possibility frontier?

I. It gives the combinations between two goods that can be produced when the resources of the economy are fully utilised.

II. It illustrates the production possibilities of the economy.

Options:

Only I

Only II

Both I and II

Neither I nor II

Correct Answer:

Both I and II