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the level of production at which a good is produced at the lowest possible opportunity cost.
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∙ 12y ago
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If the economy is producing on the production possibilities curve?
At Full Potential
What do you call an economy working at its most efficient production level?
PPF- product possibility frontier.
Why did someone choose to study economics?
Economics is the social science that studies the production, distribution, and consumption of goods and services. economics is the only stubject which can be applied in business and finance but also in crime,[4] education,[5] the family, health, law, politics, religion,[6] social institutions, war,[7] and science. so the student of economics will have knowledge in all the fields. In economics you can compare the currency level with other countries. Economics is the social science that studies the production, distribution, and consumption of goods and services. economics is the only stubject which can be applied in business and finance but also in crime,[4] education,[5] the family, health, law, politics, religion,[6] social institutions, war,[7] and science. so the student of economics will have knowledge in all the fields. In economics you can compare the currency level with other countries. so one should read economics
What is Macroeconomic?
Macroeconomic deals with the functioning of the economy as the whole. It is concerned with economy wide issues such as unemployment, inflation, and economics growth/development; it is the study of economics from a broad perspective of the resources and factors of production in an economy.
What is subsistence level of production?
A subsistence level of production is the bare minimum level of production that is needed. This concept can be applied to different situations. In the context of agriculture or farming, subsistence farming is the farmer produces enough food to feed the family and no more. Subsistence farming implies that the farmer and the farmer's family consumes as much as is produces and there is no surplus production. Subsistence farming continues to exist in parts of Latin America and Asia where there are still large quantities of peasants and villages. This concept can also be loosely applied to the means of production where subsistence level of production is producing enough to keep producing for the next cycle of production in which production is producing no profits but the firm is also not losing money.
In economics what is a fixed cost?
Fixed Cost is the cost which remains constant at all levels of production during short period. It is the basic expenditure requirement of a business which is needed even at zero level of production. example: minimum telephone expenses
If the economy is producing on the production possibilities curve?
At Full Potential
What do you call an economy working at its most efficient production level?
PPF- product possibility frontier.
When output is less than the efficient level?
When output is less than the efficient level, the amount consumers are willing to pay equals the cost of production. the cost of production is greater than the price consumers are willing to pay. the marginal cost of producing the good must be greater than the marginal benefit from the good.
Why did someone choose to study economics?
Economics is the social science that studies the production, distribution, and consumption of goods and services. economics is the only stubject which can be applied in business and finance but also in crime,[4] education,[5] the family, health, law, politics, religion,[6] social institutions, war,[7] and science. so the student of economics will have knowledge in all the fields. In economics you can compare the currency level with other countries. Economics is the social science that studies the production, distribution, and consumption of goods and services. economics is the only stubject which can be applied in business and finance but also in crime,[4] education,[5] the family, health, law, politics, religion,[6] social institutions, war,[7] and science. so the student of economics will have knowledge in all the fields. In economics you can compare the currency level with other countries. so one should read economics
How do you get production points in rising cities?
Production points are based around farms. The higher one has upgraded a farm, the more efficient their production becomes. The production doubles each level, while the production points increase by half. One must then continue to spend production points in order to earn more of them in the long run.
What is Macroeconomic?
Macroeconomic deals with the functioning of the economy as the whole. It is concerned with economy wide issues such as unemployment, inflation, and economics growth/development; it is the study of economics from a broad perspective of the resources and factors of production in an economy.
What is minimum stock level?
a minimum stock level is identified and re-order happens when that level is reached
What is the minimum draw down level?
Minimum Draw Down Level (MDDL) is the minimum level of water at any reservoir or dam from which it can be withdrawn conveniently and sustainably.
What is the answer to home economics level 1?
seafood
What is subsistence level of production?
A subsistence level of production is the bare minimum level of production that is needed. This concept can be applied to different situations. In the context of agriculture or farming, subsistence farming is the farmer produces enough food to feed the family and no more. Subsistence farming implies that the farmer and the farmer's family consumes as much as is produces and there is no surplus production. Subsistence farming continues to exist in parts of Latin America and Asia where there are still large quantities of peasants and villages. This concept can also be loosely applied to the means of production where subsistence level of production is producing enough to keep producing for the next cycle of production in which production is producing no profits but the firm is also not losing money.
What is export level of production?
Export level production is the production of goods and services for the sole purpose of exporting
