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English 19 Public

production possibility curve

Study Slideshow

At point D, the economy is inefficient. So can we increase both goods and services without any opportunity cost? True or false?

True

Why is it that there are two possible shapes on a PPC?

because the opportunity cost can be constant or increasing.

What happens if there is innovation in an economy?

This causes a shift in the PPC because improved production processes helps to boost efficiency.

What is the opportunity cost of going from point D to point C?

The opportunity cost is 3 good B

All the points which remain inside the line of the ppc are..

inefficient

A ppc is a curved line because…

the opportunity cost increases

When the PPC is a straight line the opportunity cost is ________

Constant

When a point is located outside the PPC this point is called _______

Unattainable

The PPC is a graph that shows the maximum level of _______ that can be reached with a given amount of productive _______ and ________.

output resources technology

What is the opportunity cost of producing 150 units of clothes?

50 units of food

Which point in this PPC is unattainable because of scarce resources?

What does a PPC show?

a fixed amount of productive resources of given a quality / efficient use of resources / the state of technology

What would happen if there is a rise in unemployment?

It would move to another point, inside the same PPC.

In a town they produce phones and food. Everyone is equally productive in making phones or making food. What shape does the production possibility curve have in this case?

linear

In this country's production possibility curve, what could allow the economy to move from B to D?

unemployment, inefficient use of resources

What is the opportunity cost of going from F to I?