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4A PPC
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Why is it important for a country to make choices about what to produce on the production possibilities curve?
because resources are limited, so a country needs to decide what to produce to meet its needs and wants while using resources wisely.
The points inside the PPC are ……… and the points outside the PPC are …… .
inefficient / unattainable
What is the production possibilities curve?
The production possibilities curve is like a picture that shows all the different things a country or person can make with their resources.
What is the opportunity cost of going from F to I?
BC
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 opportunity cost?
Opportunity cost is what we give up when we choose one thing over another.
Can you give an example of a choice you make in your daily life that's like the production possibilities curve?
-
Which point in this PPC is unattainable because of scarce resources?
F
When a point is located outside the PPC this point is called _______
Unattainable
All the points which remain inside the line of the ppc are..
inefficient
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