It shows how much Labor(hrs) a country uses to produce a certain combination of goods. That is one judge of efficiency. A ppf shows what good a country can produce more efficiently (less Labor) and it can be compared to Another Country to see which country should specialize in which good.
production possibilities curve convex to the origin. Elson Mendoza was here.
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
it really good
yes
Any point on the PPC curve
production possibilities curve convex to the origin. Elson Mendoza was here.
no
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
it really good
yes
Any point on the PPC curve
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
A point that lies outside a country's production possibilities curve means that the country is not able to produce. The possibility curve shows how a country can efficiently produce.
Attainable, but the economy is inefficient.
shift outward
Yes, they do.
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.