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It is a graph that represents various maximum combinations of output a nation can produce with limited economic resources in a fixed period of time.
What else can I help you with?
What causes movement along a production possibilities curve?
Movement along a production possibilities curve would imply that society has chosen a different set/amount of input for the two products/services represented in the graph.
Is the outward curve of the production possibilities curve good or bad?
it really good
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Is the United States on the production possibilities curve?
no
Is the production possibilities curve convex to the origin?
yes
A point that lies outside a country's production possibilities curve mean what?
A point that lies outside a country's production possibilities curve means that the country is not able to produce. The possibility curve shows how a country can efficiently produce.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
What does a point inside a production possibilities curve represent?
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.
How does a production possibilities curve illustrate how efficient an economy is?
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
A reduction in the level of unemployment would have which effict with respect to the nation's production possibilities curve..........?
It would not shift the curve; it would be represented by moving from a point inside the curve toward the curve.
Definition of consumption possibilities curve?
i don't know what is the answer..i just referring it to you,.
An increase in technology will cause the production possibilities curve to?
shift outward
