The Ricardian model employs the concept of alternate uses of economic
Resources in production.We refer to this technique as:
A)the production possibilities frontier.
B)the labor theory of value technique.
C)the leastcost option.
D)the labor productivity model.

Question

The Ricardian model employs the concept of alternate uses of economic
Resources in production.We refer to this technique as:
A)the production possibilities frontier.
B)the labor theory of value technique.
C)the least­cost option.
D)the labor productivity model.

Quizplus · Accepted Answer

The concept of alternate uses of economic resources in production is illustrated through the production possibilities frontier (PPF) in the Ricardian model. The PPF shows the different combinations of production that an economy can achieve given its limited resources and technology, and the concept of opportunity cost is central to this analysis. Therefore, choice A is the best option as it accurately represents the technique used in the Ricardian model.

The Ricardian Model Employs the Concept of Alternate Uses of Economic