01. What does movement along PPC indicate?
Answers
Explanation:
PPC curve shows alternative production possibilities of two goods with given technique and given resources. Movement along PPC curve shows either increase or decrease in resources or either inferior or superior use of technology or growth of both resources.
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Explanation:
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It indicate change in production capacity due destruction or increase in resources and technology.
Explain the concept of the production possibilities curve and understand the implications of its downward slope and bowed-out shape.
Explain the concept of the production possibilities curve and understand the implications of its downward slope and bowed-out shape.Use the production possibilities model to distinguish between full employment and situations of idle factors of production and between efficient and inefficient production.
Explain the concept of the production possibilities curve and understand the implications of its downward slope and bowed-out shape.Use the production possibilities model to distinguish between full employment and situations of idle factors of production and between efficient and inefficient production.Understand specialization and its relationship to the production possibilities model and comparative advantage.
Explain the concept of the production possibilities curve and understand the implications of its downward slope and bowed-out shape.Use the production possibilities model to distinguish between full employment and situations of idle factors of production and between efficient and inefficient production.Understand specialization and its relationship to the production possibilities model and comparative advantage.An economy’s factors of production are scarce; they cannot produce an unlimited quantity of goods and services. A production possibilities curve is a graphical representation of the alternative combinations of goods and services an economy can produce. It illustrates the production possibilities model. In drawing the production possibilities curve, we shall assume that the economy can produce only two goods and that the quantities of factors of production and the technology available to the economy are fixed.
Explain the concept of the production possibilities curve and understand the implications of its downward slope and bowed-out shape.Use the production possibilities model to distinguish between full employment and situations of idle factors of production and between efficient and inefficient production.Understand specialization and its relationship to the production possibilities model and comparative advantage.An economy’s factors of production are scarce; they cannot produce an unlimited quantity of goods and services. A production possibilities curve is a graphical representation of the alternative combinations of goods and services an economy can produce. It illustrates the production possibilities model. In drawing the production possibilities curve, we shall assume that the economy can produce only two goods and that the quantities of factors of production and the technology available to the economy are fixed.Constructing a Production Possibilities Curve
Explain the concept of the production possibilities curve and understand the implications of its downward slope and bowed-out shape.Use the production possibilities model to distinguish between full employment and situations of idle factors of production and between efficient and inefficient production.Understand specialization and its relationship to the production possibilities model and comparative advantage.An economy’s factors of production are scarce; they cannot produce an unlimited quantity of goods and services. A production possibilities curve is a graphical representation of the alternative combinations of goods and services an economy can produce. It illustrates the production possibilities model. In drawing the production possibilities curve, we shall assume that the economy can produce only two goods and that the quantities of factors of production and the technology available to the economy are fixed.Constructing a Production Possibilities CurveTo construct a production possibilities curve, we will begin with the case of a hypothetical firm, Alpine Sports, Inc., a specialized sports equipment manufacturer. Christie Ryder began the business 15 years ago with a single ski production facility near Killington ski resort in central Vermont. Ski sales grew, and she also saw demand for snowboards rising—particularly after snowboard competition events were included in the 2002 Winter Olympics in Salt Lake City. She added a second plant in a nearby town. The second plant, while smaller than the first, was designed to produce snowboards as well as skis. She also modified the first plant so that it could produce both snowboards and skis. Two years later she added a third plant in another town. While even smaller than the second plant, the third was primarily designed for snowboard production but could also produce skis.
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