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Praxis II: Economics Content Knowledge Exam Prep

Category - Economics

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Why does the PPC slope downward?

Increasing opportunity costs
Scarcity
A rising unemployment rate
The PPC does not slope downward

Explanation

Answer - B - The PPC slopes downward due to scarcity.

Key Takeaway: The production possibilities curve, sometimes shortened to PPC, refers to the graphical method of illustrating the complicated economic relationship between consumption and spending. It is typically used to answer a very basic question that every economy must answer: what should be produced?

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Praxis II: Economics Content Knowledge Exam Prep

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Praxis II: Economics Content Knowledge Exam Prep

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