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If the economy is producing on the production possibilities curve?
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∙ 6y ago
At Full Potential
Wiki User
∙ 9y ago
Wiki User
∙ 12y agoAt an 'X-efficient' level.
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How does a production possibilities curve illustrate how efficient an economy is?
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
A point inside the production possibilities curve is.....?
Attainable, but the economy is inefficient.
The negative slope of the production possibilities curve illustrates?
when resources are fully employed, an economy can produce more of one thing only by producing less of something else
The negative slope of the production possibilities curve illustrates that?
when resources are fully employed, an economy can produce more of one thing only by producing less of something else
How does a production possibilities curve illustrate how efficient an economy is?
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
A point inside the production possibilities curve is.....?
Attainable, but the economy is inefficient.
An economy working below its most efficient production levels?
An economy working below its most efficient production levels points inside the production possibilities frontier. This is in the context of a production possibilities curve.
The negative slope of the production possibilities curve illustrates?
when resources are fully employed, an economy can produce more of one thing only by producing less of something else
The negative slope of the production possibilities curve illustrates that?
when resources are fully employed, an economy can produce more of one thing only by producing less of something else
A country that must reduce current consumption to increase future consumption possibilities?
must be producing along the production possibilities curve.
Is the current US economy on the production possibility curve?
An economy can be producing on the PPF curve only in theory. In reality, economies constantly struggle to reach an optimal production capacity.
Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
Does an economy that is inside its production possibilities curve face any trade-offs?
If there are opportunity cost, then yes my friend, they do.
How will a reduction in the number of hours worked each day affect an economy's production possibilities curve?
The economy's production possibilities would drop if there was a reduction in the number of hours worked each day. Since, production is dependent on labor, there would be less products produced.
If the economy is inside the production possibilities curve then more output can be produced using existing resources true or false?
That is true :)
