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to show alternative ways to use an economy's resources
What else can I help you with?
Is Production possibilities graphs reveal how efficient an economy is?
No, by itself it just shows the production possibilities but provides no information on what the economy is actually doing.
What is the purpose of the production possibilities frontier?
The purpose of the production possibilities frontier is that a combination of goods produced will utilize full quality. And also, the production of goods are cannot be increased without increasing its quality.
What states the purpose of using the production possibilities frontier?
Setting up efficient production
What best states the purpose of using production possibilities frontier?
Setting up efficient production
What is purpose of a production possibilities graph?
to show alternative ways to use an economy's resources
What is the concept of the production possibilities?
Production possibilities is the extent of production in businesses. Production possibilities can change if resources increase within a business. Increasing labor can also change production possibilities.
Where would a point of underutilization appear on a product possibilities graph?
below or to the left of the production possibilities frontier
What line that shows different production possibilities for an economy?
production possibilities frontier
What tool helps a producer set up an efficient system of production?
a production possibilities frontier graph
Where would a point of underutilization appear on a production possibilities?
below or to the left of the production possibilities frontier
Where would a point of under utilization appear on a production possibilities?
below or to the left of the production possibilities frontier
What tool helps producers set up an efficient system of production?
a production possibilities frontier graph
