Asked by
Nakisha Traversiere
on Nov 05, 2024
Verified
Trade allows the people of a country to consume outside their production possibility curve.
Production Possibility Curve
A graphical representation showing the maximum combination of goods and services that can be produced with a given set of resources and technology.
- Understand the role of specialization and trade in allowing consumption outside the production possibility curve.
Verified Answer
HL
Learning Objectives
- Understand the role of specialization and trade in allowing consumption outside the production possibility curve.