Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Theory of Consumer behaviour

Question:
Which of the following is a graph that shows all the different combinations of output of two goods that can be produced using available resources and technology?
Options:
Production possibility curve
Engel curve
Phillips curve
Indifference curve
Correct Answer:
Production possibility curve
Explanation:
Production possibility curve is a graphical representation of all the different combinations of output of two goods that can be produced using available resources and technology.