Do you know about the production possibility curve? To test your knowledge about the same, take this Production Possibilities Curve MCQ quiz. The PPC or production possibility curve/ frontier is a presumptive depiction of the different conceivable combinations of two goods that can be produced within the given available resource. This quiz has several informative questions on the same topic. Choose the correct answer to get the perfect score. All the best! Don't forget to share the quiz.
What to produce, when to produce, and where to produce?
What time to produce, what place to produce, and how to produce?
What to produce, when to produce, and for whom to produce?
What to produce, how to produce, and for whom to produce?
Jogging around town.
Watching two half-hour TV sitcoms.
The sum of watching two half-hour TV sitcoms, playing pool, and doing your laundry.
Consumers would like to consume.
Producers would like to produce.
An economy can produce.
An economy should produce.
Resources are fixed and fully employed, and technology advances at the rate of growth of the economy overall.
Resources such as nonrenewable resources will decline, but labor remains fully employed, and technology is unchanged.
Resources can vary, most resources experience times of unemployment, and technology advances, particularly during wartime.
None of the above are correct.
We also increase the production of food.
We must decrease the production of food. This foregone food production represents the opportunity cost of the increase in the shelter.
We cannot change the production of food.
None of the above.
Because shrinking population has reduced the number of productive workers in the economy.
Because technological innovations have increased the productivity of labor and capital.
Because damage to natural resources, such as might be caused by deforestation leading to erosion of topsoil, has shrunk the land resource.
Because of unemployment or underemployment of labor, perhaps due to discrimination against employing workers of a certain race or gender.
They are only attainable today if we employ all unemployed or underemployed resources.
They are not attainable given our existing stock of resources and technology.
They imply that some resources, such as labor, are unemployed or underemployed.
None of the above.
A and D
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