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Since the PPF is bowed out....
Since the PPF is bowed out....
Since the PPF is bowed out....
If all resources are allocated to clothes, how many units of clothes can be made?
If all resources are allocated to food, how many units of food can be made?
If all resources are split between clothes and food, how many units of each can be made? Answer as (C, F)
What point(s) show an inefficient use of resources.
What point(s) shows an efficient use of resources.
What point(s) show feasible production outcomes given current levels of resources.
What point(s) show infeasible (not possible) production outcomes given current levels of resources.
What point(s) show an overutilization (overuse) of factor resources, such as
What point(s) show an underutilization (underuse) of factor resources.
Draw a new PPF, with an arrow, to show the effect of clothes laborers enrolling in a new training program.
Draw a new PPF, with an arrow, to show the effect of fruit farms, who supply big supermarkets, being invaded by locusts.
Draw a new PPF, with an arrow, to show an increase in population.
Draw a new PPF, with an arrow, to show the effect of a national computer virus.
Draw the change, with a chevron (arrow on a curve, >>>), to show the effect of consumers wanting more food and less clothes, starting at Point D.
Draw the change, with an arrow, to show the effect of workers going from being on strike to now working again.