Post-UTME Economics 2006 Objective — Question 3
Question 3 of 3 from the Post-UTME Screening (Post-UTME) Economics 2006 Objective paper, with the correct answer and a full explanation.
Advertisement
The downward slope of the production possibility curve shows that
- A. more of both commodities can be produced without reallocation
- B. the economy is dwindling
- C. all nations are producing at full capacityCorrect
- D. (further options not fully captured)
Explanation
A downward-sloping (concave) production possibility curve reflects the opportunity cost trade-off when an economy is producing at its full capacity/efficient frontier.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.