possibilities curve

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What is a production possibilities curve? A production possibilities curve is a curve that shows the production possibilities of an economy with a given level of production technology and infinite resources. It shows the combination of quantities of different goods that can be produced in an economy with fixed quantities of factors of production available
The shape of the production possibilities curve is due to the law of _____? The law of increasing opportunity costs.
what is the most effective point on the production possibilities curve? The most effective point on a PPC is on the curve. The curve represent resources being used completely
Is it possible to produce outside the production possibilities curve? No, it is not possible to produce outside the PPC. The curve represents a complete use of the resources and it is not feasible to use resources you do not have
How does unemployment affect the production possibilities curve? A rise in unemployment causes a move on the PPC because unemployment causes resources to not be used
How many goods does the production possibilities curve compare? The PPC compares two goods, one on each axis
Why is the production possibilities curve shaped the way it is? The PPC is shaped the way it is due to increasing opportunity costs. This is bases on the law of increasing opportunity costs

What is a production possibilities curve?

The shape of the production possibilities curve is due to the law of _____?

what is the most effective point on the production possibilities curve?

Is it possible to produce outside the production possibilities curve?

How does unemployment affect the production possibilities curve?

How many goods does the production possibilities curve compare?

Why is the production possibilities curve shaped the way it is?

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