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The shape of the PPF has to do with how many units of good A you have to give up to get another unit of good B It is related to how those goods are different in the types and amounts of productive resources between the two goods. The PPF is straight when you have to give up one unit of good A to get another unit of good B.

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The economic and political system which the government owns almost all major factors of production?

communism


What was the major problem for farmers in the 1920's?

The over production of crops and the land they owned was almost worthless


Why does North Korea have a low GDP?

North Korea has almost no functional production, be it agricultural or industrial. It has no service industry. As a result, its GDP is practically nothing.


What is the Difficulties to determined fixed cost and variable cost?

There has always been difficulties in identifying the fixes cost and variable cost for the business for almost all type of business. The cost like electricity cost,telephone cost, and fuel cost etc are the examples of the cost those add complexity in determining the fixed and variable cost. the Actual problem is that these cost occur both and at the production place and the managerial cost. For example the electricity cost increases as porpotion with the amount of the goods produced in the production plant where as it remain almost fixed in the offices.It is difficult to calculate which cost was occured at the office and on the production plant. The answe may not be satisfactory poeople can edit it.


What is the impact of poverty and inequality on GDP?

Poverty and hunger are two inseparable entities therefore a hungry men lacks bodily energy and almost an interest in everything which results in reduced effectiveness and efficiency of production resulting in diminishing GDP .Inequality lead to contracting opportunity for other potential experts which reduce production and hence GDP as they are denied chance to reveal their expertise.