In economics when the product possibility curve moves left it shows in decrease in production possibility. Why? try to figure it out, it helps in understanding.
Peace out.
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
Importance of production possibility curve in allocation resources
production possibility curve
Production Possibility Curve this is an image of a ppf/ ppc
it can not
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
Importance of production possibility curve in allocation resources
production possibility curve
Point F violates the assumption of the production-possibility curve that resources and technology are not fixed. The curve is sometimes referred to as the productionâ??possibility frontier.
Production Possibility Curve this is an image of a ppf/ ppc
it can not
It is an unreachable possibility.
a movement of the production point closer to the curve
Any time the PPC curve shifts outward it indicates economic growth, however reaching a point outside of an PPC can be reached by using trade.
Diminishing Marginal returns to capital and labor.
The production possibility curve is not always linear, in fact, it is usually concave down (bowed-in). The shape of the curve depends on the substutability of the goods described by the curve in the question. When goods are perfectly substitutable in production, the PPP (or PPF) is linear.