What determines the position and shape of a society's production possibilities frontier?
A)The physical resources of that society
B)The skills of the workforce
C)The level of technology of the society
D)The amount of factories in the society
E)All of the responses are correct.

Question

Quizplus · Accepted Answer

The production possibilities frontier (PPF) is determined by several factors including the physical resources of a society, the skills of its workforce, and the level of technology. These elements influence the quantity and quality of goods and services a society can produce, thus shaping its PPF. The amount of factories, as a representation of capital, also affects the productive capacity of a society. Therefore, all the responses collectively contribute to determining the position and shape of a society's PPF.

What Determines the Position and Shape of a Society's Production