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By using production possibility curve,country is producing both industrial and agricultural product using available resources, technology country operating inside production possibility curve shows the levels underdevelopment, which will be result under utilisation of resources ,poor technology.
The country operating outside production possibility curve show the levels of development in economy, however, an economy can produce both industrial and agricultural using the resources available without effecting the production each .
A shift from inside to outside it may be result of discovering of new resources, improved technology .
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∙ 12y ago
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A popular modle used to illustrate the concept of opportunity cost is?
production possibility frontier
What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
What are other names of production possibility frontier?
production possibility curve
How can you reach beyond the production possibility frontier?
With the introduction of new technology and new resources will shift the production possibility frontier.
What are the other names for production possibility boundary?
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
A popular modle used to illustrate the concept of opportunity cost is?
production possibility frontier
What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
What are other names of production possibility frontier?
production possibility curve
How can you reach beyond the production possibility frontier?
With the introduction of new technology and new resources will shift the production possibility frontier.
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 are the other names for production possibility boundary?
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
How does the Production Possibility Frontier illustrate scarcity?
Scarcity, on a PPC (PPF) is implied by the bowed (concave-down) shape of the curve, since there is a restriction on how much can be produced and, to get more of something, one must give away something else.
What is meant by a production possibility frontier illustrate your answer?
This is a homework assignment not a simple question. WikiAnswers does not do your homework for you, because you are meant to do it yourself so that you can benefit from your education.
What does PPF stand for in economics?
Production Possibility Frontier.
Under what conditions is the production possibilities frontier linear?
under what conditions an econoy would be operating inside its production possibility frontier?
What is trading possibility frontier?
as in production possibility curve compares production rates of two commodities, this compares prices of different commodities.
How would a production possibility frontier would be effected by a reduction in the standard number of hours worked?
How would a production possibility frontier would be effected by a reduction in the standard number of hours worked?
