guns vs butter
represented by the points outside the Production possibility frontier
production possibility frontier shift leftward
production possibility curve
production possibility curve production possibility boundary transformation curve.
With the introduction of new technology and new resources will shift the production possibility frontier.
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.
Production Possibility Frontier.
under what conditions an econoy would be operating inside its production possibility frontier?
as in production possibility curve compares production rates of two commodities, this compares prices of different commodities.
How would a production possibility frontier would be effected by a reduction in the standard number of hours worked?
quantities of productive inputs
An opportunity cost is the alternative choices that can be made with the allocation of scarce resources. A production possibility frontier is a graph illustrating those opportunities and comparing their results.
Production possibility curve refers to the maximum output combination which a firm can produce when it productive resources are fully utilised
the points within the curve (the attainable region)
an important concept of production possibility frontier is when you bang your head and think again if you should be using the net instead of roaming the libraries.. this question is and idiotic one... f*ck you!
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.
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 frontier
Production Possibility Frontier
It is typically a bowed-out shaped.
Nope That question was just on my quiz haha
PPF- product possibility frontier.
a production possibility frontier might shift inwards because the labour force shrinks,the supply of raw materials is depletes or a natural disaster decreases the stock of physical capital. a production possibility frontier might move outwards 1 increase the supply of resources.migration increases the labour supply and he discovery of new oil reserves increase the supply of natural resources. 2 improve the technology. the discovery of more efficient means of production will shift the production possibility frontier outwards. 3 select an allocation of goods that has capital accumulation.some consumption must be given up today so that more capital goods can be produced