Which categories of goods are represented in Exhibit 2.2's PPF? a) Consumer Goods b) Capital Goods c) Raw Materials d) Luxury Goods

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asked Jan 22, 2024 122k views

1 Answer

Azurefrog · Answer 1 · 2024-01-25T14:12:33+0000

Consumer Goods, Capital Goods, and Raw Materials are represented in Exhibit 2.2's PPF.

The categories of goods represented in Exhibit 2.2's PPF are:

Consumer Goods: These are products that are intended for use by individuals, such as shoes, backpacks, cars, or computers.

Capital Goods: These are items that are manufactured to produce other goods and services, such as bulldozers, school computers, or cash registers.

Raw Materials: These are materials that are used in the production of goods, such as wood, oil, or metal.

Luxury Goods are not specifically mentioned in the given information, so they may or may not be represented in Exhibit 2.2's PPF.