NSSCAS Economics (8246) Practice Questions - Namibia Senior Secondary Certificate Advanced Subsidiary Level Economics (Syllabus 8246) Exam

Why does a bowed-out (concave) PPF exhibit increasing opportunity cost?

Resources are equally productive in all uses Resources are not equally suited to producing both goods, so reallocation raises the sacrifice of the other good Technology improves only for one good Demand for both goods is perfectly inelastic

Correct Answer:

Resources are not equally suited to producing both goods, so reallocation raises the sacrifice of the other good

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