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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.
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?
What assumption are made while drawing production possibility frontier?
None
What the axes of the production possibility frontier measure?
quantities of productive inputs
What is the relationship between production possibility frontier and opportunity cost?
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.
What is the Production Possibility Frontier for Nigeria?
Production possibility curve refers to the maximum output combination which a firm can produce when it productive resources are fully utilised
Where is choice on a production possibility frontier?
the points within the curve (the attainable region)
What is an important concept of Production possibility frontier?
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!
Would the production-possibility frontier look different in a command economy?
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 which assumption of the 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.
A popular modle used to illustrate the concept of opportunity cost is?
production possibility frontier
What is a Representation of the possible ways an economy could use resources?
Production Possibility Frontier
What is the most common shape of a production possibility frontier curve?
It is typically a bowed-out shaped.
Is the slope of production possibility frontier always varying?
Nope That question was just on my quiz haha
What do you call an economy working at its most efficient production level?
PPF- product possibility frontier.
Why a production possibility frontier might shift inwards or outwards?
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
