A production possibility curve (PPC) shows the _________ possible output combinations of two _____ or ______ an economy can achieve when all _____ are fully and _____ employed.

Because scarcity people are forced to make .............. about how they use their resources.

What does scarcity mean?

If a student has 10 hours to study for 2 subjects where he/she will be graded with a alphabetic system (A-B-C-D), what would be one inefficient use of the resources and which would be an unattainable combination?

The opportunity cost of producing an extra 15 capital goods is...

When a PPC is ……………… it means that resources are not equally productive for producing both goods.

What can cause a shift like this?

What is the definition of opportunity cost?

What could cause the curve to shift to AB?

What is an unattainable point in the PPC?

If the PPC has an bowed out shape, it means that:

How would a PPC express an increase in technology that only affects good X?

PPC means __________________, it is a graphical model that represents _____________ of two goods that can be produced