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When new technology is introduced the production possibility curve will shift which way?
The right.
What happens to supply when technology improves?
when technology improves, PPC (production possibility curve ) will shift rightward and the total production in an economy will increase.
What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
What effect would a decrease in production costs for all firms have on the aggregate supply curve?
the curve would shift to the right
How do you illustrate a production possibility frontier?
By using production possibility curve,country is producing both industrial and agricultural product using available resources, technology country operating inside production possibility curve shows the levels underdevelopment, which will be result under utilisation of resources ,poor technology. The country operating outside production possibility curve show the levels of development in economy, however, an economy can produce both industrial and agricultural using the resources available without effecting the production each . A shift from inside to outside it may be result of discovering of new resources, improved technology .
When new technology is introduced the production possibility curve will shift which way?
The right.
What happens to supply when technology improves?
when technology improves, PPC (production possibility curve ) will shift rightward and the total production in an economy will increase.
What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
What effect would a decrease in production costs for all firms have on the aggregate supply curve?
the curve would shift to the right
Will a technological advance shift the supply or demand curve?
it will shift the supply curve to the right
How do you illustrate a production possibility frontier?
By using production possibility curve,country is producing both industrial and agricultural product using available resources, technology country operating inside production possibility curve shows the levels underdevelopment, which will be result under utilisation of resources ,poor technology. The country operating outside production possibility curve show the levels of development in economy, however, an economy can produce both industrial and agricultural using the resources available without effecting the production each . A shift from inside to outside it may be result of discovering of new resources, improved technology .
Can massive unemployment shift the production possibility curve inward?
Massive unemployment will shift the PPC to the left because labour force remains underutilized. The economy will produce inside the PPC indicating underutilization of resources.
Why ppc shift to right?
The production possibility curve (PPC) shifts to the right primarily due to an increase in resources, technological advancements, or improvements in productivity. This shift indicates that an economy can produce more goods and services than before, reflecting growth. Factors such as investment in human capital, discovery of new resources, and innovation contribute to this expansion of production capacity. Overall, a rightward shift signifies enhanced economic potential and efficiency.
Cause the aggregate demand curve to shift outward?
Real shocks will determine the direction of the long-run aggregate demand curve. A real shock is an event or certain factors that cause more or less production. A war, for instance will halt factories from producing goods and will cause the aggregate demand curve to shift left. Higher production will lead to an outward shift to the right.
How can you reach beyond the production possibility frontier?
With the introduction of new technology and new resources will shift the production possibility frontier.
Will economic growth necessarily involve a parallel outward shift of the production possibility curve?
Any time the PPC curve shifts outward it indicates economic growth, however reaching a point outside of an PPC can be reached by using trade.
An increase in technology will cause the production possibilities curve to?
shift outward
