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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.
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 production possibilities curve illustrates the basic principle that?
everyone has a possibility of being productive but most likely nothing will get done.
What line on a production possibilties curve shows the amounts of goods produced?
The line on a production possibilities curve (PPC) that shows the amounts of goods produced is known as the production possibilities frontier (PPF). This curve illustrates the maximum feasible output combinations of two goods that can be produced with available resources and technology. Points on the curve indicate efficient production levels, while points inside the curve represent inefficiency, and points outside the curve are unattainable with current resources.
What does a production possibilities curve reveal?
A production possibilities curve (PPC) illustrates the maximum output combinations of two goods or services that an economy can achieve, given available resources and technology. It reveals the trade-offs and opportunity costs associated with reallocating resources between the production of different goods. The curve also indicates efficiency (points on the curve), inefficiency (points inside the curve), and unattainable production levels (points outside the curve). Overall, it helps to visualize the limits of production and the choices an economy must make.
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.
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 production possibilities curve illustrates the basic principle that?
everyone has a possibility of being productive but most likely nothing will get done.
What does a production possibilities curve reveal?
A production possibilities curve (PPC) illustrates the maximum output combinations of two goods or services that an economy can achieve, given available resources and technology. It reveals the trade-offs and opportunity costs associated with reallocating resources between the production of different goods. The curve also indicates efficiency (points on the curve), inefficiency (points inside the curve), and unattainable production levels (points outside the curve). Overall, it helps to visualize the limits of production and the choices an economy must make.
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Is the United States on the production possibilities curve?
no
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
Is the outward curve of the production possibilities curve good or bad?
it really good
Is the production possibilities curve convex to the origin?
yes
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
A point that lies outside a country's production possibilities curve mean what?
A point that lies outside a country's production possibilities curve means that the country is not able to produce. The possibility curve shows how a country can efficiently produce.
An increase in technology will cause the production possibilities curve to?
shift outward
