A point X inside the production possibility curve indicates that

Assessment: WAEC SSCE - Economics - 2019 (Objective) Subject: Economics

Question 1 Report

A point X inside the production possibility curve indicates that

Answer Details
A point X inside the production possibility curve indicates that some resources are idle. This means that the country is not producing the maximum amount of goods and services it can with the given resources. It could be due to inefficiencies in the production process or lack of demand for certain goods and services. However, it does not necessarily mean that the country is poor or that resources are not available.
Read lesson note on Theory Of Production (WAEC)
Read lesson note on Market Structures (WAEC)
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