WAEC Economics 2022 Objective — Question 2
Question 2 of 50 from the West African Examinations Council (WAEC) Economics 2022 Objective paper, with the correct answer and a full explanation.
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There is unemployment of resources when production is
- A. within the production possibility curveCorrect
- B. outside the production possibility curve
- C. along the production possibility curve
- D. adequate to meet market demand
Explanation
A point within (inside) the production possibility curve indicates that resources are underutilized, i.e. unemployment of resources exists.
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