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What are other names of production possibility frontier?
production possibility curve
Does open economy do more harm than good?
It does more good because consumers are able to purchase more goods and services outside the production possibility boundary and producers can sell goods and services to other economies.
Illustrate on Production Possibility Frontier diagram if the economy experiences a technological boom?
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
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.
What is the most common shape of a production possibility curve Explain why this is so?
The most common shape of a Production Possibility Curve (PPC) is a concave bulging in towards the origin (or a quarter circle from one axis to the other.) This is due to the fact that as the production in one goods increase, the opportunity cost of producing the extra of that good (or the amount of Good B that it has to give up) become less.
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 are other names of production possibility frontier?
production possibility curve
Does open economy do more harm than good?
It does more good because consumers are able to purchase more goods and services outside the production possibility boundary and producers can sell goods and services to other economies.
What happens at a transform fault boundary?
At a transform fault boundary, two tectonic plates slide past each other horizontally. This movement can cause earthquakes as the plates grind against each other. There is no creation or destruction of crust at this type of boundary.
Illustrate on Production Possibility Frontier diagram if the economy experiences a technological boom?
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
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.
How is a transform boundary from a convergent boundary?
At a convergent boundary two plates move toward each other. At a transform boundary plates slide past each other.
What are the other term for diverting boundary?
Another term for diverting boundary could be a redirecting boundary or a deflecting boundary.
What is the most common shape of a production possibility curve Explain why this is so?
The most common shape of a Production Possibility Curve (PPC) is a concave bulging in towards the origin (or a quarter circle from one axis to the other.) This is due to the fact that as the production in one goods increase, the opportunity cost of producing the extra of that good (or the amount of Good B that it has to give up) become less.
How is transform boundary different from a convergent boundary?
Transform fault where plates slide horizontally past one another without the production or destruction of litosphere, the Divergent produces new sea floor and Convergent two plates collide underneath in creating underground mountains.
What type of plate boundary exists?
divergent plate boundary- a boundary where two plates move apart from each other. convergent plate boundary- a boundary where two plates move towards each other so that one plate can sink beneath the other. transform plate boundary- a boundary where one plate slips along side another plate.
What happens at a transform boundary?
Neither production nor consumption of lithosphere occurs at these boundaries.
