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A production possibility curve depends on factors of production because they are all part of one big group. For example, if raw material does not arrive when needed, there can be no production. Each part of the production process depends on the step before it.
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.
It depends what is being produced.
Factors of production
The effect of increased resources in a production possibility frontier, or PPF, is an imbalance in the graph. Since a PPF is created based on set production factors, the results of the graph would be skewed with an increase in resources unless other production factors were increased accordingly.
A production possibility curve depends on factors of production because they are all part of one big group. For example, if raw material does not arrive when needed, there can be no production. Each part of the production process depends on the step before it.
A production possibility curve is concave because of the law of diminishing returns. As more resources are allocated to one good over the other, the opportunity cost increases, which leads to decreasing marginal rates of substitution. This results in a concave curve that shows the trade-off between producing different goods.
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.
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.
It depends what is being produced.
Factors of production
The effect of increased resources in a production possibility frontier, or PPF, is an imbalance in the graph. Since a PPF is created based on set production factors, the results of the graph would be skewed with an increase in resources unless other production factors were increased accordingly.
you can say enzyme reaction depends on ph, temp
Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.
There are a few factors that influences power ad territory in the country. The main factors are military, capital and the level of industrialization.
Unemployment itself is one of the factors as to why the Production Possibility Curve (PPC) is what it is - a frontier where production cannot occur outside of. If unemployment increased, you would see decreases of the the PPC at any given point, that is, closer to the origin.
mobility of factors of production