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It shows a range of two product quantities that may be created from limited resources.
By Lecho648
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Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
How many products can be shown on a single production possibilities graph?
Only two products can be shown on a single production possibilities graph
Is not shown on a production possibilities curve?
A production possibilities curve (PPC) illustrates the maximum potential output of two goods or services that an economy can produce given its resources and technology. However, it does not show inefficiencies, such as unemployment or underutilization of resources, nor does it represent future growth or technological advancements. Additionally, it does not account for external factors like government policies or international trade that can impact production capabilities. Thus, while the PPC provides a useful snapshot of trade-offs, it has limitations in depicting the full economic landscape.
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
What relationship is shown by a supply curve?
What is shown by a supply curve, is the marginal cost of the company that you are considering, from the point it crosses the average costs function.
Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
If a technology were developed that increased the productivity of all inputs how would that be shown with a production possibilities curve?
If a technology were developed that increased the productivity of all inputs, it would be represented on a production possibilities curve (PPC) by an outward shift of the curve. This shift indicates that the economy can produce more of both goods without sacrificing the production of one for the other. The new curve would demonstrate higher potential output, reflecting improved efficiency and resource utilization. Such a change signifies economic growth, allowing for greater production possibilities.
How many products can be shown on a single production possibilities graph?
Only two products can be shown on a single production possibilities graph
The opportunity cost of obtaining more of one good is shown on the production possibilities frontier as the?
decrease in the quantity of the other good that must be given up.
Law of increasing opportunity costs reflected in a PPC is concave to the origin?
The Law of Increasing Opportunity Cost that is shown in a Production Possibilities Curve is concave to the origin. This is because it shows the maximum gain of two products used in production.
Is not shown on a production possibilities curve?
A production possibilities curve (PPC) illustrates the maximum potential output of two goods or services that an economy can produce given its resources and technology. However, it does not show inefficiencies, such as unemployment or underutilization of resources, nor does it represent future growth or technological advancements. Additionally, it does not account for external factors like government policies or international trade that can impact production capabilities. Thus, while the PPC provides a useful snapshot of trade-offs, it has limitations in depicting the full economic landscape.
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
What is shown on the x and y axes of PPF graph?
The production possibility frontier graph shows the various quantities of two products that can be produced. The two products may be shown on either axis.
What relationship is shown by a supply curve?
What is shown by a supply curve, is the marginal cost of the company that you are considering, from the point it crosses the average costs function.
How does under utilisation or efficiency shown on a PPC?
Underutilization on a Production Possibility Curve (PPC) is represented by points inside the curve, indicating that an economy is not producing at its full potential. This inefficiency may arise from factors such as unemployment, underemployment, or misallocation of resources. In contrast, points on the curve signify efficient production, where resources are fully utilized. Thus, the area within the curve highlights the gap between actual output and potential output.
Shown by the intersection of the supply curve and the demand curve?
the equilibrium price of a good or service
Which of the following is shown by the intersection of the supply curve and the demand curve?
the equilibrium price of a good or service
