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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 the Importance of production possibility curve?
Importance of production possibility curve in allocation resources
What are other names of production possibility frontier?
production possibility curve
What happens to supply when technology improves?
when technology improves, PPC (production possibility curve ) will shift rightward and the total production in an economy will increase.
How production possibility curve helps in solving central problems of an economy?
How does ppc help in solving basic economic problems
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 the Importance of production possibility curve?
Importance of production possibility curve in allocation resources
What are other names of production possibility frontier?
production possibility curve
What happens to supply when technology improves?
when technology improves, PPC (production possibility curve ) will shift rightward and the total production in an economy will increase.
How production possibility curve helps in solving central problems of an economy?
How does ppc help in solving basic economic problems
Does the production possibilities curve slope downward?
Yes, production possibility curve slopes downwards to the right indicating that the economy has to forgo some quantity of one commodity to have more quantity of other commodity.
Point F violates which assumption of the Production Possibility Curve?
Point F violates the assumption of the production-possibility curve that resources and technology are not fixed. The curve is sometimes referred to as the productionâ??possibility frontier.
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 production possibilities?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
What is production possiblities?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
Draw a production possibility curve and use it to explain scarcity choice and opportunity cost?
Production Possibility Curve this is an image of a ppf/ ppc
