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How can an economy expand its production possibilities frontier?
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Why is there less economic growth with a command economy?
There is no motive to expand the economy in a command economy, whereas there are investors, changing demands, and prerogatives to improve production in a capitalist economy because of the competition that is lacking in a command economy.
Why in a production possibilities frontier model a point inside the frontier is attainable?
A PPF is the locus of points such that all the economy's resources are used to its fullest potential. A PPF is concave to the origin because of the increasing opportunity cost to produce an additional unit of x (on the horizontal axes). A point inside the PPF is attainable because (1) there may be no full employment or (2) inspite of full employment they are used to less potential. On the contrary a point outside the PPF is not attainable because the PPF itself is the locus of the maximum attainable output given resources, the PPF may however expand due to increase in resources or their efficiency.
how does acid precipitation effect the economy?
acid rain helps companies lower their production cost, which then allows them to increase their profits and expand their production at the expense of others since it could poison their water supplies, which can ultimately lead local economies to collapse
For an economy to grow and expand there must be an increase in which of these?
Savings
How do banks help expand the economy?
by loaning money
Why is there less economic growth with a command economy?
There is no motive to expand the economy in a command economy, whereas there are investors, changing demands, and prerogatives to improve production in a capitalist economy because of the competition that is lacking in a command economy.
How would trading posts affect crusoe's consumption possibilities frontier?
Trading posts would expand Crusoe's consumption possibilities frontier by providing him with access to a greater variety of goods and resources that he can trade for. This would allow Crusoe to consume a more diverse range of products and potentially increase his overall standard of living by trading goods or services with other individuals.
Why in a production possibilities frontier model a point inside the frontier is attainable?
A PPF is the locus of points such that all the economy's resources are used to its fullest potential. A PPF is concave to the origin because of the increasing opportunity cost to produce an additional unit of x (on the horizontal axes). A point inside the PPF is attainable because (1) there may be no full employment or (2) inspite of full employment they are used to less potential. On the contrary a point outside the PPF is not attainable because the PPF itself is the locus of the maximum attainable output given resources, the PPF may however expand due to increase in resources or their efficiency.
How banks help expand and maintain the economy?
Banks help expand and maintain the economy by providing loans and credit to businesses.
how does acid precipitation effect the economy?
acid rain helps companies lower their production cost, which then allows them to increase their profits and expand their production at the expense of others since it could poison their water supplies, which can ultimately lead local economies to collapse
For an economy to grow and expand there must be an increase in which of these?
Savings
How do banks help expand the economy?
by loaning money
What must there be an increase in for an economy to grow and expand?
Savings.
Italy captured Ethiopia to?
Expand Italian Economy.
For an economy to grow and expand there must be in increase in what?
Savings.
What effect did the marshall plan have on the economy?
It helped expand it
Why did the revolution spread to the American frontier?
George Rogers Clark persuaded Patrick Henry to allow him to raise an army to capture British outposts on the Western frontier. Clark wanted to expand the war into the frontier.
