Production Possibility Frontier

Explain how the following can be represented in a PPF framework:

What do the points along the frontier represent?

How will a decrease in unemployment likely affect a production possibility curve?

What do businesses or a nation use to understand all the potential uses of their resources (PPC)?

You are standing outside Thompkin Bus Manufacturing Company, watching one finished school bus roll off their assembly line every 15 minutes. An employee, taking a break nearby, proudly states: "We

How does the production possibility curve illustrate the concepts of scarcity, choice, and opportunity cost? Explain your answer with the aid of a diagram.

Alex is a skilled toymaker who can produce both boats and drums. He has eight hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of

Which of the following will cause a country's production possibilities line to shift outward? A. an increase in population B. technological progress C. a discovery of a new supply of resources D. a

Assuming technology as constant, points outside the PPF are A. desirable but unattainable. B. attainable and efficient. C. attainable but inefficient. D. attainable and neither efficient nor ineffi

If the economy is producing a combination of goods inside its production possibilities frontier, then a. workers are on vacation b. a significant number of workers have little education c. some res