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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.
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.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
What does each point on a production possibilities curve represent show?
Each point on a production possibilities curve (PPC) represents a different combination of two goods or services that an economy can produce using its available resources and technology. Points on the curve indicate efficient production levels, where resources are fully utilized. Points inside the curve reflect inefficiency or underutilization of resources, while points outside the curve are unattainable with current resources. The PPC illustrates trade-offs and opportunity costs, highlighting the choices an economy faces in allocating its resources.
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.
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.
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.
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.
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
Why does a production possibility curve have a downward sloping curve?
PPC curve slopes downward for the efficient resouress of another commidty
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.
What does the point outside a production possibility curve mean?
It is an unreachable possibility.
What does a point below ppc indicate?
A point below the production possibilities curve (PPC) indicates that resources are not being fully utilized. This could be due to unemployment, inefficiency, or resources being used in a suboptimal way. The economy is operating below its maximum potential output.
What is represented by a point inside the curve on a production possibilities curve graph?
A point inside the curve on a production possibilities curve (PPC) represents an inefficient use of resources, where the economy is not operating at its full potential. This indicates that more of one or both goods could be produced without sacrificing the production of another good. It suggests underutilization of labor, capital, or technology. In contrast, points on the curve represent efficient production levels.
