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Illustrate on Production Possibility Frontier diagram if the economy experiences a technological boom?
Wiki User
∙ 16y ago
In economics, the production possibility frontier (the PPF, also called the production possibilities curve (PPC) or the "transformation curve") is a graph that depicts the trade-off between any two items produced. It indicates the opportunity cost of increasing one item's production in terms of the units of the other forgone. ( hope you can build on this)
-- BY ASMA In economics, the production possibility frontier (the PPF, also called the production possibilities curve (PPC) or the "transformation curve") is a graph that depicts the trade-off between any two items produced. It indicates the opportunity cost of increasing one item's production in terms of the units of the other forgone. ( hope you can build on this)
-- BY ASMA
Wiki User
∙ 16y ago
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A popular modle used to illustrate the concept of opportunity cost is?
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.
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 are other names of production possibility frontier?
production possibility curve
How do you illustrate a production possibility frontier?
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 .
A popular modle used to illustrate the concept of opportunity cost is?
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.
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 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 are other names of production possibility frontier?
production possibility curve
How do you illustrate a production possibility frontier?
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 .
What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
What is the Importance of production possibility curve?
Importance of production possibility curve in allocation resources
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.
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.
What impact did technological advances have on the production goods?
production of goods was increased
What factor of production do these images illustrate?
bunny rabbits
