as in production possibility curve compares production rates of two commodities, this compares prices of different commodities.
production possibility frontier shift leftward
With the introduction of new technology and new resources will shift the production possibility frontier.
production possibility curve
Production Possibility Frontier.
quantities of productive inputs
production possibility frontier shift leftward
With the introduction of new technology and new resources will shift the production possibility frontier.
production possibility curve
Production Possibility Frontier.
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
How would a production possibility frontier would be effected by a reduction in the standard number of hours worked?
quantities of productive inputs
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
under what conditions an econoy would be operating inside its production possibility frontier?
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.
beat the battle frontier!
an important concept of production possibility frontier is when you bang your head and think again if you should be using the net instead of roaming the libraries.. this question is and idiotic one... f*ck you!