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The Production Possibilities Frontier

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One of the basic premises in Economics is that we have unlimited wants but limited resources that can be used to satisfy these wants. Accordingly, we have to make choices in terms of what resources we use and what products we will produce with those resources.

Briefly describe how the Production Possibilities Frontier illustrates the concept of scarcity described above.

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https://brainmass.com/economics/production/the-production-possibilities-frontier-318364

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This solution reiterates how the Production Possibilities Frontier illustrates the concept of scarcity.

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