If a society is operating on the production possibility curve, this implies that the resources are?

Assessment: JAMB UTME - Economics - 1991 Subject: Economics

Question 1 Report

If a society is operating on the production possibility curve, this implies that the resources are?
Answer Details
If a society is operating on the production possibility curve, this implies that the resources are fully and efficiently utilized. The production possibility curve shows the maximum amount of goods that a society can produce with its given resources and technology. Any point on the curve represents the most efficient use of the society's resources. Therefore, if a society is operating on the production possibility curve, it is using all of its resources to their fullest potential and producing the maximum amount of goods that it can with its available resources and technology.
Read lesson note on Theory Of Production (WAEC)
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