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Any intersection of points outside the frontier line on a production possibilities graph would show that the economy is?
Wiki User
∙ 9y ago
Depends on what the graph will display for us to really gather a correct answer. The reason behind it is because there are a lot of topics that have to do about the economy.
Wiki User
∙ 9y ago
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What line that shows different production possibilities for an economy?
production possibilities frontier
An economy at its production possibilities frontier is operating?
At full potential.
How does a production possibilities curve illustrate how efficient an economy is?
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
What is a production possibilities graph?
production possibilities graph is a graph that shows alternative ways to use an economy's resources.
Does unemployment move outside the production possibilities frontier?
The production possibilities frontier is a curve illustrating the various ratios of goods that can be produced by a nation when that nations economy is at maximum productivity, using all resources (including labor). To be at maximum productivity there must be full employment. When there is not full employment (unemployment) the country cannot be on it's PPF, let alone beyond it. The nations economy is represented by a point within, or under, the curve.
What line that shows different production possibilities for an economy?
production possibilities frontier
An economy at its production possibilities frontier is operating?
At full potential.
An economy working below its most efficient production levels?
An economy working below its most efficient production levels points inside the production possibilities frontier. This is in the context of a production possibilities curve.
How does a production possibilities curve illustrate how efficient an economy is?
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
Is Production possibilities graphs reveal how efficient an economy is?
No, by itself it just shows the production possibilities but provides no information on what the economy is actually doing.
What is a production possibilities graph?
production possibilities graph is a graph that shows alternative ways to use an economy's resources.
Does unemployment move outside the production possibilities frontier?
The production possibilities frontier is a curve illustrating the various ratios of goods that can be produced by a nation when that nations economy is at maximum productivity, using all resources (including labor). To be at maximum productivity there must be full employment. When there is not full employment (unemployment) the country cannot be on it's PPF, let alone beyond it. The nations economy is represented by a point within, or under, the curve.
Would the production possibility frontier look different in a command economy?
The production-possibility frontier would not look different in a command economy compared to a market economy because the PPF equate the rates of production between two goods which both use equal factors of production.
Would the production-possibility frontier look different in a command economy?
The production-possibility frontier would not look different in a command economy compared to a market economy because the PPF equate the rates of production between two goods which both use equal factors of production.
A point inside the production possibilities curve is.....?
Attainable, but the economy is inefficient.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
How will a reduction in the number of hours worked each day affect an economy's production possibilities curve?
The economy's production possibilities would drop if there was a reduction in the number of hours worked each day. Since, production is dependent on labor, there would be less products produced.
