Economy, asked by rameshvemu886, 4 months ago

In the given production possibility graph, at point B economy is at equilibrium, due to war there is a decline in the capital stock of the country by 60%, then what will the new equilibrium be:​

Answers

Answered by poojadevi4
8

Answer:

Just as individuals cannot have everything they want and must instead make choices, society as a whole cannot have everything it might want, either. This section of the chapter will explain the constraints faced by society, using a model called the production possibilities frontier (PPF). There are more similarities than differences between individual choice and social choice. As you read this section, focus on the similarities.

Because society has limited resources (e.g., labor, land, capital, raw materials) at any point in time, there is a limit to the quantities of goods and services it can produce. Suppose a society desires two products, healthcare and education. This situation is illustrated by the production possibilities frontier in Figure 1.

Answered by ineedhelp1496
0

Answer:

umm idk ia m new here idk how even ask a question

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