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A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
What else can I help you with?
What does the number of laborers in an economy generally cause?
increase in production possiblities. (novanet)
What does the increasing number of laborers in an economy generally cause?
increase in production possiblities. (novanet)
What is an antonym for possiblities?
Probabilities, maybes
What is the best school motto?
imagine the possiblities imagine the possiblities
What is the full of AIRCEL?
One world of possiblities.
What is the full form of aircel?
One world of possiblities.
What condition is represented by a joint lying inside or below the production possiblities curve?
A joint lying inside or below the production possibilities curve represents inefficiency in resource allocation or underutilization of resources. This indicates that the economy is not producing at its full potential, which could be due to factors such as unemployment, misallocation of resources, or technological limitations. In this situation, it is possible to increase production of one or both goods without sacrificing the production of another good.
Is Christopher a female name?
No but, Christy is. Or Christina. Or Kristin! There's lot's of possiblities.
Is Global warming the end of humans?
There are many possiblities to the famed doomsday but yes this is a possibility
Are there any possiblities of life on other planets?
Yes, but not on any of the ones in our solar system.
What are the advancement possiblities for a fashion designer?
the answer is to be there every day and work really hard sike lol :)
When a system not communacting on network or with any other system What is the possiblities you will check?
You need to check the cable.
