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4B PPC

  • Game Code: 512035
  •  English    21     Public
    PPC
  •   Study   Slideshow
  • Give an example of what may happen if the MPC increases like this
    The PPC increases because there are more resources or more technology advances
  •  20
  • Give an example of what may happen if the PPC decrease like this.
    The PPC decreases because there are no more resources or technology isn't enough
  •  20
  • When is a ppc linear?
    When the opportunity costs is constant
  •  5
  • What is an opportunity cost?
    An opportunity cost is the loss of other alternatives when one alternative is chosen
  •  15
  • The graph of the PPC represents the maximum level of output that can be reached with a given amount of ___________ ____________ ___________
    productive resources technology
  •  10
  • The graph of the PPC can be __________ or not. ____________ curve happens when the factors of production are ________ productive for both goods.
    (linear) (linear) (equally)
  •  10
  • The PPC is ______ when the factors of production are not equally productive for both goods.
    curved
  •  10
  • If a point is inside the PPC that means that it is _____ and if it is outside, that would mean that it is _____.
    inefficient unattainable
  •  15
  • The PPC is a downward line due to _____.
    scarcity
  •  15
  • What could be a cause for an upward shift in the PPC?
    change in resources advances in technology education or training changes in the labor face
  •  15
  • What are the inefficient points on a PPC?
    The points that can be achieved and don’t satisfy.
  •  10
  • What is the opportunity cost of producing OD of consumer goods?
    EB capital goods
  •  20
  • What can cause a ppc to shift outwards only in one direction like shown in the picture?
    An increase in a good or technology that only affects that good
  •  25
  • What does it mean if a point is inefficient?
    That the economy is not making the best use of resources that they can do.
  •  10
  • Monica could instead have practiced her violin or done her French homework. Her opportunity cost of practicing her violin
    the grade for her French homework
  •  15
  • What can cause a shift like this:
    A decrease in resources or technology
  •  20
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