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Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
What does PPC stand for in economics?
PPC stands for Production Possibility Curve.
Will economic growth necessarily involve a parallel outward shift of the production possibility curve?
Any time the PPC curve shifts outward it indicates economic growth, however reaching a point outside of an PPC can be reached by using trade.
What impact does unemployment has on production possible curve?
Unemployment itself is one of the factors as to why the Production Possibility Curve (PPC) is what it is - a frontier where production cannot occur outside of. If unemployment increased, you would see decreases of the the PPC at any given point, that is, closer to the origin.
Can massive unemployment shift the production possibility curve inward?
Massive unemployment will shift the PPC to the left because labour force remains underutilized. The economy will produce inside the PPC indicating underutilization of resources.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
What does PPC stand for in economics?
PPC stands for Production Possibility Curve.
Will economic growth necessarily involve a parallel outward shift of the production possibility curve?
Any time the PPC curve shifts outward it indicates economic growth, however reaching a point outside of an PPC can be reached by using trade.
What impact does unemployment has on production possible curve?
Unemployment itself is one of the factors as to why the Production Possibility Curve (PPC) is what it is - a frontier where production cannot occur outside of. If unemployment increased, you would see decreases of the the PPC at any given point, that is, closer to the origin.
Can massive unemployment shift the production possibility curve inward?
Massive unemployment will shift the PPC to the left because labour force remains underutilized. The economy will produce inside the PPC indicating underutilization of resources.
How does PPC graph of unemployment looks like?
There is no shift in the PPC.Only a dot is marked within the curve(Not on the curve) in the exact center of the two axes.The shape of the PPC is concave to the origin.
Why does a production possibility curve have a downward sloping curve?
PPC curve slopes downward for the efficient resouress of another commidty
A point outside a production possibilities frontier is?
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.
What is ppc curve in micro economics?
PPC is nothing but providing the better understandment of trade offs by an individual or society, it also referred as production possibilities frontier.
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
Why are some production combinations attainable and unattainable?
the combination which lies on PPC curve IS attainable combination.
How production possibility curve helps in solving central problems of an economy?
How does ppc help in solving basic economic problems
