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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.
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 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.
Economic growth can be shown as a movement from a point one production possibility curve to a point on a curve located father from the origin. True or False?
TRUE
To show Full Employment on a Production Possibilities Curve you indicate what?
Full employment exists at every point on the production possibility curve. Which can be indicated with Y(f).
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.
Point F violates which assumption of the Production Possibility Curve?
Point F violates the assumption of the production-possibility curve that resources and technology are not fixed. The curve is sometimes referred to as the productionâ??possibility frontier.
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.
How is an immediate effect of an increase in unemployment illustrated on production possibility curve diagram?
a movement of the production point closer to the curve
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.
Economic growth can be shown as a movement from a point one production possibility curve to a point on a curve located father from the origin. True or False?
TRUE
To show Full Employment on a Production Possibilities Curve you indicate what?
Full employment exists at every point on the production possibility curve. Which can be indicated with Y(f).
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.
How do you Illustrate on Production Possibility Frontier diagram?
The PPF graph is a bowed out curve. The x-axis being quantity produced of one product/service and the y-axis being another quantity produced of a product/service. Any point on the curve is productive efficiency. Outside of the curve is unattainable and inside of the curve is inefficient.
A point outside the production possibilities curve represents a combination of goods that is?
A point outside the production possibilities curve represents a combination of goods that is unattainable with the current resources and technology available. It indicates a level of production that exceeds the economy's capacity. In practical terms, achieving such a point would require improvements in efficiency, advances in technology, or an increase in resource availability.
Can you operate at a point outside the production possibility frontier?
No. It either cannot be maintained for long or it is impossible because the production possibility curve (PPC) shows the available areas of operation to a firm or economy to operate within the frontier, due to a fixed and scarce amount of resources and technology. Therefore, it is impossible, because of fixed levels of technology and resources, for the firm or economy to operate outside the PPC.~MB
What does each point on a PPC mean?
Each point on a Production Possibility Curve (PPC) represents different combinations of two goods that can be produced with available resources and technology. Points along the curve indicate efficient production levels, where resources are fully utilized. Points inside the curve signify underutilization of resources, while points outside the curve are unattainable with current resources. The shape of the PPC typically reflects the trade-offs and opportunity costs involved in reallocating resources between the two goods.
