Fill in the blanks: The production possibilities curve can be used to illustrate the economic concepts of

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Fill in the blanks:

The production possibilities curve can be used to illustrate the economic concepts of _____________

(resource combinations outside the production possibilities curve are unattainable), _____________ (selecting among the alternative bundles available along the production possibilities curve), _____________ (how much of one good you give up to get another unit of the second good as you move along the production possibilities curve), _____________ (being on the production possibilities curve rather than inside it), and _____________ (shifting the production possibilities curve outward).

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Exploring Economics

ISBN: 9780324395464

4th Edition

Authors: Robert L. Sexton

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