0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
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.
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
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
What does the point outside a production possibility curve mean?
It is an unreachable possibility.
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
