Consider the statements: 1: The Production Possibility Frontier (PPF) shows the trade-offs and opportunity costs faced by an economy. 2: The PPF is used to estimate the government's total revenue and expenditure.

Only Statement 1 is correct

Only Statement 2 is correct

Both Statement 1 and Statement 2 are correct

Neither Statement 1 nor Statement 2 is correct

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SSC CGL

2025 • 17 Sep, 2025 • First Shift

Consider the statements: 1: The Production Possibility Frontier (PPF) shows the trade-offs and opportunity costs faced by an economy. 2: The PPF is used to estimate the government's total revenue and expenditure.

Correct Answer

Only Statement 1 is correct

PPF represents trade-offs and opportunity costs (Statement 1 is correct). It does not measure government revenue/expenditure.[span_41](start_span)[span_41](end_......

💡 Analysis & Explanation

Introduction ▼

PPF represents trade-offs and opportunity costs (Statement 1 is correct). It does not measure government revenue/expenditure.[span_41](start_span)[span_41](end_span)

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Consider the statements: 1: The Production Possibility Frontier (PPF) shows the trade-offs and opportunity costs faced by an economy. 2: The PPF is used to estimate the government's total revenue and expenditure.