How is0ppc affected unemployment in the economy
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Hii frnd here is ur answer.
Production possibilities, which analyzes the alternative combinations of two goods that an economy can produce with given resources and technology, indicates unemploymentwhen production is inside the production possibilities curve. Unemployment means resources that could be used for production are not being used.
The bowed-out production possibilities curve for Alpine Sports illustrates the law of increasing opportunity cost. Scarcity implies that a production possibilities curve is downward sloping; the law of increasing opportunity cost implies that it will be bowed out, or concave, in shape.
Hope it help u.
Production possibilities, which analyzes the alternative combinations of two goods that an economy can produce with given resources and technology, indicates unemploymentwhen production is inside the production possibilities curve. Unemployment means resources that could be used for production are not being used.
The bowed-out production possibilities curve for Alpine Sports illustrates the law of increasing opportunity cost. Scarcity implies that a production possibilities curve is downward sloping; the law of increasing opportunity cost implies that it will be bowed out, or concave, in shape.
Hope it help u.
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