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What may enable an economy to consume a combination of goods outside its production possibility frontier?
An economy(country) can consume outside of its PPF if its starts to trade with Another Country that also produces all goods.
Since these countries may have different comparative advantages in production, they will focus on producing more of one good and export the excess, i.e that which is not consumed or wanted in the own country. The terms of trade will then determine how much of the other good the country can import for the price of the exported good but you will then end up in a situation where you consume more goods than an economy can produce itself.
What else can I help you with?
Which is a problem for the production of public goods?
The possibility of free riders, a situation where some individuals in a population either consume more than their fair share of a common resource, or pay less than their fair share of the cost of a common resource, is a problem for the production of public goods.
Each society determines who will consume what is produced based on?
Combination of social values and goals.
Why must the government go to business firms to buy resources for production?
Governments do not produce, they consume. However they have to deal with business to acquire the resources they need to operate.
What three activities consume the most fuel in modern societies?
The three activities that consume the most fuel in modern societies are transportation, industrial production, and electricity generation. Transportation, particularly by road, air, and shipping, accounts for a significant portion of fuel use. Industrial production processes, including manufacturing and construction, also require substantial energy inputs. Additionally, electricity generation, especially from fossil fuels, contributes heavily to overall fuel consumption.
How equilibrium income in a closed economy is determined?
There is equilibrium in a closed economy (that which doesn't encourage in international trade), when there is the circular flow of income between House-holds & firms, where the house-holds own the factors of production, which is given to firms, which in return gives factors of income for their services. the firm uses fatcors of production to produce goods & services, whereas house-holds consume goods & services using factors of production. Here NI=NO=NE.
Which is a problem for the production of public goods?
The possibility of free riders, a situation where some individuals in a population either consume more than their fair share of a common resource, or pay less than their fair share of the cost of a common resource, is a problem for the production of public goods.
What is the result of a production?
A product that you will be able to use or consume.
Who is the largest consumer of diamond in the world?
Industries consume about 75% of the diamond industry's production, annually.
What combination of foods do Canadians consume?
they consumse mostly what they grow
Are cars consumers?
Yes, cars are consumers. They consume raw materials during production and fuel for the engine.
What is food quantity production?
Quantity food production is the amount of food you consume each day.
Each society determines who will consume what is produced based on?
Combination of social values and goals.
Is the process for making Hershey's chocolate intermitten or continuous production?
Due to the high demand for Hershey's chocolate product, production is continuous. Hershey's provides ready to consume chocolate, cooking chocolate and cocoa products.
What kind of chicken do we typically consume in our diets?
The type of chicken we usually eat in our diets is broiler chicken, which is specifically bred for meat production.
Important vitamins to consume are?
Some important vitamins to consume are vitamin C for immune health, vitamin D for bone health, and vitamin B12 for energy production. It is also important to consume a variety of fruits, vegetables, and whole grains to ensure a well-rounded intake of essential vitamins.
What are some examples of secondary production?
Secondary production refers to the generation of biomass by heterotrophic organisms that consume primary producers. Examples include the growth of animals such as cows, pigs, and fish, which convert plant biomass into meat. Additionally, the production of dairy products from cows and the growth of microorganisms in fermentation processes are also forms of secondary production.
What is an example of calcivores?
Calcivores are animals that consume calcium-rich sources like bones, shells, or antlers. Some examples of calcivores include hyenas that consume bones for their calcium content and certain birds that eat eggshells for the calcium they provide for egg production.
