Unattainable given resources and technology.
Cannot be attained unless resources or tech increase, or if trade occurs
production possibility frontier shift leftward
production possibility curve
With the introduction of new technology and new resources will shift the production possibility frontier.
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
A point outside a PPC shows the problem of scarcity. A point outside the Production Possibility Curve shows a combination that cannot be attained because sufficient quantity of resources are not available to produce them.
production possibility frontier shift leftward
production possibility curve
With the introduction of new technology and new resources will shift the production possibility frontier.
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
Production Possibility Frontier.
A point outside a PPC shows the problem of scarcity. A point outside the Production Possibility Curve shows a combination that cannot be attained because sufficient quantity of resources are not available to produce them.
under what conditions an econoy would be operating inside its production possibility frontier?
as in production possibility curve compares production rates of two commodities, this compares prices of different commodities.
quantities of productive inputs
Setting up efficient production
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.