An economy uses its limited resources to produce different kinds of goods. This may be represented by a production possibility curve (PPC). What does point X on the PPC indicate?
- AAll resources are used for the production of consumer goods.
- BMore resources are allocated to producing capital goods than consumer goods.
- CResources are allocated to produce a mixture of consumer goods and capital goods.
- DTotal resources are not being fully utilised for production of these goods.