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It shows a range of two product quantities that may be created from limited resources.
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∙ 13y ago
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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
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.
What does PPC stand for in economics?
PPC stands for Production Possibility Curve.
What economic data does a production possibilities curve bring together?
Total value of 4 factors of production including:LandLaborCapitalEnterprizeThe PPC curve adds all these factor ups and create a curve show the possible optimum level of production for 2 competing goods.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
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.
Law of increasing opportunity costs reflected in a PPC is concave to the origin?
The Law of Increasing Opportunity Cost that is shown in a Production Possibilities Curve is concave to the origin. This is because it shows the maximum gain of two products used in production.
What does PPC stand for in economics?
PPC stands for Production Possibility Curve.
What assumptions determine the production possibilities curve?
Assumptions to determine the PPC is:only 2 goods will be illustratedthe amount of resources is fixedstate of technology is constant
What economic data does a production possibilities curve bring together?
Total value of 4 factors of production including:LandLaborCapitalEnterprizeThe PPC curve adds all these factor ups and create a curve show the possible optimum level of production for 2 competing goods.
Shifting of ppc?
The biggest reasons for a shift in the Production Possibilities Curve is new technology. Basically, if things can be done more efficiently (that is, with less resources than before), the curve shifts outward. Another way is by finding more of the resources used in the curve.
Why does a production possibility curve have a downward sloping curve?
PPC curve slopes downward for the efficient resouress of another commidty
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
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
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.
