Question

What do economists use a production possibilities curve (ppc) for?

a
to model how stocks will behave
b
to demonstrate that as supply goes up prices go down
c
to show the clash of wants vs needs in decision making
d
to illustrate the impact of scarcity on an economy by showing the maximum number of goods or services that can be produce using limited resources.

help hurry

Answer 1

I would say D

The Production Possibilities Curve (PPC) is a model used to show the tradeoffs associated with allocating resources between the production of two goods. The PPC can be used to illustrate the concepts of scarcity, opportunity cost, efficiency, inefficiency, economic growth, and contractions.