WAEC 2018 Economics · Question 31
which of the following is not emphasized in a production possibility curve
Options
- A.scarcity of resources
- B.economic development
- C.inefficiency in the use of resources
- D.unemployment of labour
Answer: B. economic development
Explanation written with AI and checked against the answer key
Analyze the question: We need the option that a production possibility curve (PPC) does not emphasize.
Concept: A PPC shows the different combinations of two goods an economy can produce when it uses all its resources fully and efficiently, with a fixed amount of resources and fixed technology.
What a PPC emphasizes:
- Scarcity of resources: The curve is a boundary because resources are limited (A).
- Choice and opportunity cost: Producing more of one good means producing less of the other.
- Efficiency and inefficiency: Points on the curve are efficient. Points inside the curve show resources being wasted or underused (C).
- Unemployment: Points inside the curve also show unemployed labour or idle resources (D).
Economic development: This is shown only when the curve shifts outward over time, through more resources or better technology. A basic PPC is drawn for a given time period with resources and technology held constant, so it is not what the curve is mainly built to emphasize. It is a change to the curve, not a feature of the curve itself.
Step by step:
- A: Scarcity is the foundation of the PPC, so it is emphasized.
- C: A point inside the curve shows inefficiency, so it is emphasized.
- D: A point inside the curve also shows unemployment, so it is emphasized.
- B: Economic development is not the focus of a standard PPC, because resources and technology are assumed fixed.
Answer: B. Economic development.
Exam tip: Remember the PPC as S-O-E-U: Scarcity, Opportunity cost, Efficiency, Unemployment. Growth and development appear only when the curve shifts. If a question asks what is not emphasized, look for the option about change over time.
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