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When new technology is introduced the production possibility curve will shift which way?
Wiki User
∙ 12y ago
The right.
Wiki User
∙ 12y ago
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What are the other names for production possibility boundary?
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
Could a future advance in technology allow production beyond the production possibility curve?
yes
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 Importance of production possibility curve?
Importance of production possibility curve in allocation resources
What are other names of production possibility frontier?
production possibility curve
Point F violates which assumption of the Production Possibility Curve?
Point F violates the assumption of the production-possibility curve that resources and technology are not fixed. The curve is sometimes referred to as the productionâ??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.
Could a future advance in technology allow production beyond the production possibility curve?
yes
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 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 Importance of production possibility curve?
Importance of production possibility curve in allocation resources
What are other names of production possibility frontier?
production possibility curve
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 .
Draw a production possibility curve and use it to explain scarcity choice and opportunity cost?
Production Possibility Curve this is an image of a ppf/ ppc
How can recession be pictured in a Production possibility curve?
it can not
What does the Production Possibility Curve tell us?
All the possible combination of two goods which an economy produce with given resources and technology.
What does the point outside a production possibility curve mean?
It is an unreachable possibility.
