Production Possibility Curve
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Last updated over 1 year ago
4 questions
1
Classify the following goods based on their production possibility curve characteristics:
Classify the following goods based on their production possibility curve characteristics:
- Food
- Clothing
- Capital
- Labor
- Constant Opportunity Cost
- Increasing Opportunity Cost
- Maximum Efficiency
- Scarcity
1
Sort the items below based on their relationship to the PPF:
Sort the items below based on their relationship to the PPF:
- Point A
- Point C
- Point D
- Point B
- Attainable Point
- Efficient Point
- Inefficient Point
- Unattainable Point
1
Categorize the factors affecting the production possibility curve as follows:
Categorize the factors affecting the production possibility curve as follows:
- Division of Labor
- Improvement
- Land
- Increased Production
- Specialization
- Technology
- Resources
- Economic Growth
1
Place the concepts below into their respective categories related to PPF:
Place the concepts below into their respective categories related to PPF:
- Underutilization
- Sacrificing Another Good
- Trade-offs
- Technology Advancement
- Efficiency
- Trade-offs
- Opportunity Cost
- Shifts