Question: Fully discuss how the production possibility frontier demonstrates the basic economic problem of scarcity . This question needs evidence of research . Reference . The

Fully discuss how the production possibility frontier demonstrates the basic economic problem of scarcity . This question needs evidence of research . Reference .

The production possibility frontier is the first Economic model that demonstrates the economic problem of scarcity. (MARK SCHEME: 7 marks for diagram; 18 marks for discussion)

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