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Graphical representation of the alternative combinations of the amounts of two goods or services that an economy can produce by transferring resources from one good or service to the other. This curve helps in determining what quantity of a non-essential good or a service an economy can afford to produce without jeopardizing the required production of an essential good or service. Also called transformation curve.
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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 is the Importance of production possibility curve?
Importance of production possibility curve in allocation resources
What are other names of production possibility frontier?
production possibility curve
Draw a production possibility curve and use it to explain scarcity choice and opportunity cost?
Production Possibility Curve this is an image of a ppf/ ppc
How can recession be pictured in a Production possibility curve?
it can not
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 is the Importance of production possibility curve?
Importance of production possibility curve in allocation resources
What are other names of production possibility frontier?
production possibility curve
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.
Draw a production possibility curve and use it to explain scarcity choice and opportunity cost?
Production Possibility Curve this is an image of a ppf/ ppc
How can recession be pictured in a Production possibility curve?
it can not
What does the point outside a production possibility curve mean?
It is an unreachable possibility.
What is happening when a production possibility curve shifts to the left?
In economics when the product possibility curve moves left it shows in decrease in production possibility. Why? try to figure it out, it helps in understanding. Peace out.
How is an immediate effect of an increase in unemployment illustrated on production possibility curve diagram?
a movement of the production point closer to the curve
Why is the production possibility curve bowed out from the origin of the curve?
Diminishing Marginal returns to capital and labor.
Why is product possibility curve linear?
The production possibility curve is not always linear, in fact, it is usually concave down (bowed-in). The shape of the curve depends on the substutability of the goods described by the curve in the question. When goods are perfectly substitutable in production, the PPP (or PPF) is linear.
