0
What else can I help you with?
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
What does each point on a production possibilities curve show?
an efficient utilization of resources
If a country uses up a good portion of its available resources what happens to its production possibilities curve?
The curve moves inward
What line on a production possibilties curve shows the amounts of goods produced?
The line on a production possibilities curve (PPC) that shows the amounts of goods produced is known as the production possibilities frontier (PPF). This curve illustrates the maximum feasible output combinations of two goods that can be produced with available resources and technology. Points on the curve indicate efficient production levels, while points inside the curve represent inefficiency, and points outside the curve are unattainable with current resources.
What does a production possibilities curve reveal?
A production possibilities curve (PPC) illustrates the maximum output combinations of two goods or services that an economy can achieve, given available resources and technology. It reveals the trade-offs and opportunity costs associated with reallocating resources between the production of different goods. The curve also indicates efficiency (points on the curve), inefficiency (points inside the curve), and unattainable production levels (points outside the curve). Overall, it helps to visualize the limits of production and the choices an economy must make.
Why is A nation's production possibilities curve is bowed out from the origin?
When there are diminishing marginal returns to factors of production, the PPF is "bowed out" from the origin.
Why does a production possibilities curve have a bowed-out shape?
The PPF is bowed outwards (concave to the origin) as tradeoffs between the production of any two goods are constant.
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
What does each point on a production possibilities curve show?
an efficient utilization of resources
If a country uses up a good portion of its available resources what happens to its production possibilities curve?
The curve moves inward
What If a country uses up a good portion of its available resources what happens to its production possibilities curve?
The curve moves inward
When charted on a graph production possibilities frontiers tend to curve because they show .?
Production possibilities frontiers (PPFs) tend to curve because they illustrate the concept of increasing opportunity costs. As production of one good increases, resources must be reallocated from the production of another good, leading to less efficient use of those resources. This results in a bowed-out shape, reflecting that the trade-off between the two goods is not constant. Consequently, the more of one good produced, the greater the amount of the other good that must be sacrificed.
What line on a production possibilties curve shows the amounts of goods produced?
The line on a production possibilities curve (PPC) that shows the amounts of goods produced is known as the production possibilities frontier (PPF). This curve illustrates the maximum feasible output combinations of two goods that can be produced with available resources and technology. Points on the curve indicate efficient production levels, while points inside the curve represent inefficiency, and points outside the curve are unattainable with current resources.
Increases in resources or improvements in technology will tend to cause a society's production-possibilities curve to?
shift outward
What does a production possibilities curve reveal?
A production possibilities curve (PPC) illustrates the maximum output combinations of two goods or services that an economy can achieve, given available resources and technology. It reveals the trade-offs and opportunity costs associated with reallocating resources between the production of different goods. The curve also indicates efficiency (points on the curve), inefficiency (points inside the curve), and unattainable production levels (points outside the curve). Overall, it helps to visualize the limits of production and the choices an economy must make.
Why is the production possibility curve bowed out from the origin of the curve?
Diminishing Marginal returns to capital and labor.
What does each point on a production possibilities curve represent show?
Each point on a production possibilities curve (PPC) represents a different combination of two goods or services that an economy can produce using its available resources and technology. Points on the curve indicate efficient production levels, where resources are fully utilized. Points inside the curve reflect inefficiency or underutilization of resources, while points outside the curve are unattainable with current resources. The PPC illustrates trade-offs and opportunity costs, highlighting the choices an economy faces in allocating its resources.
