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Where is scarcity on a production possibility frontier?
represented by the points outside the Production possibility frontier
What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
What are other names of production possibility frontier?
production possibility curve
What are the other names for production possibility frontier?
production possibility curve production possibility boundary transformation curve.
How can you reach beyond the production possibility frontier?
With the introduction of new technology and new resources will shift the production possibility frontier.
What are the other names for production possibility boundary?
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
What are the other names for production possibility curve?
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
What does PPF stand for in economics?
Production Possibility Frontier.
Under what conditions is the production possibilities frontier linear?
under what conditions an econoy would be operating inside its production possibility frontier?
What is trading possibility frontier?
as in production possibility curve compares production rates of two commodities, this compares prices of different commodities.
What the axes of the production possibility frontier measure?
quantities of productive inputs
How would a production possibility frontier would be effected by a reduction in the standard number of hours worked?
How would a production possibility frontier would be effected by a reduction in the standard number of hours worked?
