The 4 factors of production related to the PPF are capital, human capital, machines and land.
If the quantity of resources increases, then the PPF will shift
To be operating at the PPF, an economy has to be productively efficient.
The addition of the new
| Draggable item | arrow_right_alt | Corresponding Item |
|---|---|---|
Less resources | arrow_right_alt | PPF shift out |
More resources | arrow_right_alt | PPF shift in |
Translate Ceteris Paribus.
How many production combinations are demonstrated on the table?
What is the opportunity cost, in sugars, to move from combination A to combination B?
Per Unit Opportunity Cost evaluates
What is the per unit opportunity cost of moving from D to C?