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How can the production possibilities frontier be used to illustrate economic growth?
The production possibilities frontier (PPF) illustrates the maximum efficient production levels of two goods in an economy, showing the trade-offs between them. Economic growth can be represented by an outward shift of the PPF, indicating that the economy can produce more of both goods due to factors like increased resources, technological advancements, or improvements in productivity. This shift highlights the potential for higher output and improved living standards. Thus, the PPF serves as a visual tool to demonstrate the capacity for economic expansion.
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A popular model used to illustrate the concept of opportunity cost is?
The Production Possibilities frontier/curve
What tool helps a producer set up an efficient system of production?
a production possibilities frontier graph
What line that shows different production possibilities for an economy?
production possibilities frontier
What are the effects of discrimination in the production possibilities frontier?
The effects of discrimination in the production possibilities frontier is that a given business does not fulfill its ful potential.
Where would a point of under utilization appear on a production possibilities?
below or to the left of the production possibilities frontier
A popular model used to illustrate the concept of opportunity cost is?
The Production Possibilities frontier/curve
Where would a point of underutilization appear on a product possibilities graph?
below or to the left of the production possibilities frontier
What tool helps a producer set up an efficient system of production?
a production possibilities frontier graph
What tool helps producers set up an efficient system of production?
a production possibilities frontier graph
What line that shows different production possibilities for an economy?
production possibilities frontier
What are the effects of discrimination in the production possibilities frontier?
The effects of discrimination in the production possibilities frontier is that a given business does not fulfill its ful potential.
Where would a point of underutilization appear on a production possibilities?
below or to the left of the production possibilities frontier
In a production possibilities frontier model a point inside the frontier is?
Attainable.
Where would a point of under utilization appear on a production possibilities?
below or to the left of the production possibilities frontier
Society's production possibilities frontier is based on?
simplifying assumptions, but is still useful for illustrating scarcity, opportunity cost, and economic growth.
Country's consumption possibilities frontier can be outside its production possibilities frontier if?
penis, it's wats good for you. fo'sho man.
Producers can use a production possibilities frontier for which of the following purposes?
Producers can use a production possibilities frontier for which of the following purposes?
