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Is the outward curve of the production possibilities curve good or bad?
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∙ 11y ago
it really good
Wiki User
∙ 11y ago
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If a country uses up a good portion of its available resources what happens to its production possibilities curve?
The curve moves inward
A production possibilities frontier with a bowed outward shape indicates?
A production possibilities frontier with a bowed outward shape indicates an increase in opportunity costs as more and more of one good is produced. Some resources are more specialized towards specific tasks.
How will technological advances affected the production possibilities curve?
Let's briefly explore each one of these and see how they shift the curve. Probably what you hear about most in economics is how changes in technology affect the curve. For example, let's say the country discovers a new technology, such as a new computer system that improves productivity. Anything that improves the productivity of workers is good. This causes output to increase, so the production possibilities curve shifts outward, or to the right. On the other hand, let's say a major war causes destruction of capital equipment in the country. This would cause output to decrease, so in this case, the production possibilities curve shifts inward, or to the left.
What does a production possibilities curve how?
production possibilities curve is a graphical representation of alternative combinations of amounts of two goods/services that economy can produce by transferring resources from one good/service to the other.
What is Production possibilities frontier in the economy shifts outward does it follow that per-captia output will rise?
The production possibilities frontier (PPF) is a curve that shows how much output of good X a country can produce at the expense of the production of good Y. A country that has a comparitave advantage over good X should produce more of it at the expense of a reduction in production of good Y. (Going to add more to this question later... Mobeen Iqbal, Bahrain) 1. Yes, If the PPF shifts outward, it means there is more output 2. No, because when the PPF shifts outward, and there is greater output, the population always rises by a greater percentage thant the rise of the output. 3. Not necessarily, First, it depends on whether or not htte capacity to produce mroe output is realized. Then, it depends on the percentage rise in output relative to percentage rise in the population. 4. Not nessarily, First, it depends on whether or not the capacity to produce more output is realized. Then, it depends on the percentage rise in output relative to ther percentage rise in income I am not sure which it is?
What If a country uses up a good portion of its available resources what happens to its production possibilities curve?
The curve moves inward
If a country uses up a good portion of its available resources what happens to its production possibilities curve?
The curve moves inward
A production possibilities frontier with a bowed outward shape indicates?
A production possibilities frontier with a bowed outward shape indicates an increase in opportunity costs as more and more of one good is produced. Some resources are more specialized towards specific tasks.
How will technological advances affected the production possibilities curve?
Let's briefly explore each one of these and see how they shift the curve. Probably what you hear about most in economics is how changes in technology affect the curve. For example, let's say the country discovers a new technology, such as a new computer system that improves productivity. Anything that improves the productivity of workers is good. This causes output to increase, so the production possibilities curve shifts outward, or to the right. On the other hand, let's say a major war causes destruction of capital equipment in the country. This would cause output to decrease, so in this case, the production possibilities curve shifts inward, or to the left.
Explain why a production possibilities curve is concave?
Because when one produces one product, the opportunity cost of the other product increases i.e. the concave represents the increasing opportunity cost with the production of a good.
What does a production possibilities curve how?
production possibilities curve is a graphical representation of alternative combinations of amounts of two goods/services that economy can produce by transferring resources from one good/service to the other.
What is Production possibilities frontier in the economy shifts outward does it follow that per-captia output will rise?
The production possibilities frontier (PPF) is a curve that shows how much output of good X a country can produce at the expense of the production of good Y. A country that has a comparitave advantage over good X should produce more of it at the expense of a reduction in production of good Y. (Going to add more to this question later... Mobeen Iqbal, Bahrain) 1. Yes, If the PPF shifts outward, it means there is more output 2. No, because when the PPF shifts outward, and there is greater output, the population always rises by a greater percentage thant the rise of the output. 3. Not necessarily, First, it depends on whether or not htte capacity to produce mroe output is realized. Then, it depends on the percentage rise in output relative to percentage rise in the population. 4. Not nessarily, First, it depends on whether or not the capacity to produce more output is realized. Then, it depends on the percentage rise in output relative to ther percentage rise in income I am not sure which it is?
Moving left to right the typical production possibilities curve ahas a constant neg slope b has a constant posit slope cillustrates increasing opportunity costs d ill decreasing oppor cost?
Moving from left to right, the typical production possibilities curve:C)illustrates increasing opportunity costsFeedback: The typical curve is bowed out from the origin, reflecting increasing sacrifices of one good as the other is increased. This is the principle of increasing opportunity costs.
Moving left to right the typical production possibilities curve ahas a constant neg. slope b has a constant posit. slope cillustrates increasing opportunity costs d ill. decreasing oppor. cost.?
Moving from left to right, the typical production possibilities curve:C)illustrates increasing opportunity costsFeedback: The typical curve is bowed out from the origin, reflecting increasing sacrifices of one good as the other is increased. This is the principle of increasing opportunity costs.
What happens to a supply curve if a tax on a good is repealed?
The supply curve of that good will increase or move to the right because the cost of production will have decreased.
Why does the production possibilities curve bow out from the origin?
The production possibility curve (PPC) is a two dimensional model, showing how resources can be used to produce two different goods or services or types of good and services. The graph is bowed outwards due to a basic concept used in economics - the principle of increasing cost. If a producer were to produce more of one good or service, the constant in resources and technology would not be able to maintain the previous amount of production of the other good or service. If more of one good or service is produced, the opportunity cost of the reduction of the other good or service increases, therefore the gradient of the curve increases.
Country's consumption possibilities frontier can be outside its production possibilities frontier if?
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