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A Production Possibility Frontier (PPF) is a curved bowed out from the origin. It is mostly 2 dimensional and involving 2 goods or services.

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3 factors that will cause the ppf to shift inward?

The production possibilities frontier (PPF) can shift inward due to several factors, including a decline in resources, such as a decrease in labor force or natural resources due to depletion. Additionally, a reduction in technology or productivity can hinder efficient production capabilities. Lastly, external shocks, such as natural disasters or economic downturns, can also negatively impact the economy's ability to produce goods and services, resulting in an inward shift of the PPF.


Why does the shape of the ppf slope downwards to the right and bulge out?

The slope of the PPF at a given point is the amount of good 'A' that would have to be sacrificed to get an additional unit of good 'B" That is the opportunity cost of getting an extra unit of good 'B' It bulges outwards (it is concave) because of the increasing opportunity cost If the slope is lineaar (straight) the opportunity cost will be constant and no sacrifice will be made. Three results can result from the PPF these are.. 1) Unattainable 2) Attainable and efficient 3) Attainable but inefficient Innefiency refers to when TB (total benefit) mines TC (tolat cost) is not maximised.


State three assumptions underlying the PPF?

1) an economy's resources are fixed in both quantity and quality 2) the state of technology is constant 3) That 2 types of goods are produced 4) that the resources are completely mobile between the production of both goods hope that helps


Identify and define three types of trade barriers?

The 3 types are ........... and ..... does ........, ......... does ........ and finally ........... does ............


Identify the uneven distribution of wealth as a market failure?

someone answer, we need this too! <3

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