Economics 9708 · AS & A Level · Production possibility curves

Production possibility curves — practice question

(a)[8]

Explain, with the help of a diagram, how an economy can in the short run and long run enjoy consumption beyond its current production possibility curve.

(b)[12]

Discuss the extent to which free market economies are effective in raising welfare.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Understanding of production possibility curve (ppc) and short-run constraint on production” …

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