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Production Possibility Curve

Last updated over 1 year ago

4 questions

1

1

1

1

Question 1

1.

Classify the following goods based on their production possibility curve characteristics:

Food
Clothing
Capital
Labor

Constant Opportunity Cost
Increasing Opportunity Cost
Maximum Efficiency
Scarcity

Question 2

2.

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

Question 3

3.

Categorize the factors affecting the production possibility curve as follows:

Division of Labor
Improvement
Land
Increased Production

Specialization
Technology
Resources
Economic Growth

Question 4

4.

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