Click on the icon to read the news clip, then complete the following steps. Car production capital (units) 600- The graph shows Toyota's PPF in 2013. The y-axis measures Toyota's capital used in producing cars and the x-axis measures the number of cars produced. 500- Car production capital includes human skills and technology. 400- Draw a point to show Toyota's production point in 2013 when Toyota uses all its car production capital to produce cars. Label it 1. 300- Now draw a point to show Toyota's car production in 2014 when it allocates some resources to upgrading human skills and creating new technology. Label it 2. 200- Draw Toyota's PPF in 2018 if its plan to upgrade human skills and create new technology is successful. Label it. 100- News clip PPF 2013 Cars (millions per year) Toyota Plans to Build a Better Company >>> Draw only the objects specified in the question. Toyota will produce 3 million cars per year and use the balance of its resources to upgrade its workers' skills and create new technology. In three years' time, Toyota plans to produce better cars and be more productive.
Click on the icon to read the news clip, then complete the following steps. Car production capital (units) 600- The graph shows Toyota's PPF in 2013. The y-axis measures Toyota's capital used in producing cars and the x-axis measures the number of cars produced. 500- Car production capital includes human skills and technology. 400- Draw a point to show Toyota's production point in 2013 when Toyota uses all its car production capital to produce cars. Label it 1. 300- Now draw a point to show Toyota's car production in 2014 when it allocates some resources to upgrading human skills and creating new technology. Label it 2. 200- Draw Toyota's PPF in 2018 if its plan to upgrade human skills and create new technology is successful. Label it. 100- News clip PPF 2013 Cars (millions per year) Toyota Plans to Build a Better Company >>> Draw only the objects specified in the question. Toyota will produce 3 million cars per year and use the balance of its resources to upgrade its workers' skills and create new technology. In three years' time, Toyota plans to produce better cars and be more productive.
Chapter2: Economic Tools And Economic Systems
Section: Chapter Questions
Problem 3.5P
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Transcribed Image Text:Click on the icon to read the news clip, then complete the following steps.
Car production capital (units)
600-
...I
The graph shows Toyota's PPF in 2013. The y-axis measures Toyota's capital used in
producing cars and the x-axis measures the number of cars produced.
500-
Car production capital includes human skills and technology.
400-
Draw a point to show Toyota's production point in 2013 when Toyota uses all its car
production capital to produce cars. Label it 1.
300-
Now draw a point to show Toyota's car production in 2014 when it allocates some resources
to upgrading human skills and creating new technology. Label it 2.
200-
Draw Toyota's PPF in 2018 if its plan to upgrade human skills and create new technology is
successful. Label it.
100-
News clip
PPF20:
2013
Cars (millions per year)
Toyota Plans to Build a Better Company
>>> Draw only the objects specified in the question.
Toyota will produce 3 million cars per year and use the balance of its resources to
upgrade its workers' skills and create new technology. In three years' time, Toyota
plans to produce better cars and be more productive.
Source: Financial Post, April 7, 2014
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