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What happens when a society operates on its production possibility curve?
Wiki User
∙ 13y ago
Operating efficiently, it is producing the highest possible amounts of goods that it can produce.
Wiki User
∙ 13y ago
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What is production possibilities?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
How can corporate social responsibility benefit the communities in which it operates?
the society becomes stronger and united.
Under Socialism who controls production?
Under socialism, society controls the means of production.
What is the concern of business for the long range welfare of both the company and its relationships to the society within which it operates?
Corporate Social Responsibility
To realize full production a society must achieve what?
Both allocative and productive efficiency
What is production possibility curves?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
What is production possiblities?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
What is production possibilities?
A Production Possibility Curve is the curve which shows various combinations of two goods that can be produced with available techniques and with given amount of resources, which are fully and efficiently employed. It depicts a society's menu of choices of these two goods. It tells us that if the economy wants to produce more of one commodity, it will have to transfer or divert resources from the production of another commodity to the production of this commodity. That is why the production 'possibility curve' is also called 'transformation curve'.
How production possibility frontier provide an insight into the issue of scarcity and choice which an economy faces when deciding what goods and services to produce?
Since resources are limited,the society cannot get all the goods and services the people want.And hence some mechanisms are used to guide the use of resources in the production of goods and services to satisfy as many as people wants as possible. When the society do not know what to produce,the Production Possibility Frontier [PPF] is used to represent a boundary between those combination of goods and services which can be produced and those which cannot be produced.
What is verb from society?
One possibility is "to socialise".
What was the Production Budget for Menace II Society?
The Production Budget for Menace II Society was $3,500,000.
What was the Production Budget for Dead Poets' Society?
The Production Budget for Dead Poets' Society was $16,400,000.
How can corporate social responsibility benefit the communities in which it operates?
the society becomes stronger and united.
What was hofstadter's idea of democracy?
He believed a political society operates with consensus among all groups.
Which theory believes that society operates like a machine?
Functionalism is the theory that believes society operates like a machine, with different parts working together to maintain balance and stability. It views society as a system with interconnected parts that contribute to the overall functioning of the whole.
Who owns the factor of production in a market economy?
factors of production by govt. , by society and privetly
Who owns the factors of production in market economy?
factors of production by govt. , by society and privetly
