Every point on the production possibilities curve represents? a. a greater increase in supply b. an efficient use of rescources c. an inefficient use of resources
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- Every point on the production possibilities curve represents? a. a greater increase in supply b. an efficient use of rescources c. an inefficient use of resources d. a greater increase in demandA production possibilities curve can shift inward if there is a. an increase in productivity b. an increase in unemployment c. an increase in the price of raw materials d. a misallocation of resources e. a natural disasterDefine the four ecconomic resources (the factor of production).How are they Relevant to the production possibilities curve?
- Draw a production possibilities model with 4 points labelled A, B, C, D, one inside, two on, and one outside the production possibilities curve. Explain the 4 points in terms of scarcity, choice and efficiency.Production possibilities curve ABCDE is bowed out from the origin because: a. the marginal benefit of pizzas declines as more pizzas are consumed. b. the curve gets steeper as we move from E to A . c. it reflects the law of increasing opportunityWhat does a production possibilities graph show in economics? how many items can be produced in a specific amount of time possible production costs one's final choice one's top two choices when making a decision
- could someone draw a graph on paper please? a. Using one of the graphing tools described in the directions, plot the Production Possibilities Curve for Teavana. b. Find the combination of Jade Citrus Mint Tea and Spiced Apple Cider of 47 Jade Citrus Mint Tea and 35 Spiced Apple Cider. Label this point F. What term best describes this point? c. Find the combination of Jade Citrus Mint Tea and Spiced Apple Cider of 16 Jade Citrus Mint Tea and 20 Spiced Apple Cider. Label this point G. What term best describes this point?What is production possibilities curveQ. How would the following events be shown using production possibilities curve [ please draw diagram] for shelter and food? a. The economy is experiencing double digit unemployment? b. Economic growth is increasing at over 5 percent per year. c. Society decides it wants less shelter and more food. d. Society wants more shelter and less food.
- No written by hand solution Refer to Table C. If the production possibilities frontier is bowed outward, then which of the following could be the maximum number of baseballs produced at quantity A in the table? 6,200. 5,900. 5,400. 4,200.(h) sugar industry is a subject matter of micro economics. Give reason. (i) what do you mean by alternative uses of resources? (k) unemployment in India is a subject matter of microeconomics or macroeconomics, give reason.