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What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
What are other names of production possibility frontier?
production possibility curve
How can you reach beyond the production possibility frontier?
With the introduction of new technology and new resources will shift the production possibility frontier.
What are the other names for production possibility boundary?
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
What does PPF stand for in economics?
Production Possibility Frontier.
What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
What are other names of production possibility frontier?
production possibility curve
How can you reach beyond the production possibility frontier?
With the introduction of new technology and new resources will shift the production possibility frontier.
What are the other names for production possibility curve?
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
What are the other names for production possibility boundary?
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
What does PPF stand for in economics?
Production Possibility Frontier.
Under what conditions is the production possibilities frontier linear?
under what conditions an econoy would be operating inside its production possibility frontier?
What is trading possibility frontier?
as in production possibility curve compares production rates of two commodities, this compares prices of different commodities.
What the axes of the production possibility frontier measure?
quantities of productive inputs
What best states the purpose of using a production possibility frontier?
Setting up efficient production
What is the relationship between production possibility frontier and opportunity cost?
An opportunity cost is the alternative choices that can be made with the allocation of scarce resources. A production possibility frontier is a graph illustrating those opportunities and comparing their results.
Would the production-possibility frontier look different in a command economy?
The production-possibility frontier would not look different in a command economy compared to a market economy because the PPF equate the rates of production between two goods which both use equal factors of production.
