Are always choices that have to be made c. Scarcity is reflected by the unattainable points such as x. The production possibility frontier (PPF) can be very complex when there are several items to choose between. 2. 8) 9)Any production point outside the production possibilities frontier A)is attainable only if prices fall. 1. All of the points inside a production possibilities frontier (PPF) are attainable. It is easiest to understand the PPF by visualizing it in just two dimensions. inefficient production points. Attainable points can be reached while unattainable region is not capable of reaching at this point. Get more help from Chegg Get 1:1 help now from expert Economics tutors All the points above the curve are out of the capacity of production, while all the points below are underutilization of resources. B)the exchange of one good or service for another. All points outside the production possibility frontier are: efficient production points. Production Possibility Frontier (PPF) PPF refers to the curve formed by a combination of production of two goods in such a way that the resources and technology are utilized in the most efficient way. C)the limits on production imposed by our limited resources and technology. 8)A production possibilities frontier does NOTillustrate A)attainable and unattainable points. will be no agricultural goods (point M). A point beneath the curve indicates inefficiency, and a point beyond the curve indicates impossibility. D)opportunity cost. A country's consumption possibilities frontier can be outside its production possibilities frontier if a. the country engages in trade. All of the points outside the production possibilities frontier are unattainable. true or false. b. the citizens of the country have a greater desire to consume goods and services than do the citizens of other countries. D) unattainable. Therefore, a point outside of the production possibility frontier (such as J) is currently impossible – there are simply not enough resources. The ppf is a graphical representation of the data found in the table and is known as the production possibilities frontier. 8) The points outside the production possibilities frontier are A) efficient. B) attainable. infeasible production points Oeconomic growth. point outside the production possibility frontier are attainable but inefficient. Answer: D Diff: 2 Page Ref: 39 Topic: Production Possibilities Frontiers *: Recurring Learning Outcome: Micro-3: Discuss different types of market … C the points outside the area enclosed by the production possibilities frontier. A production possibility frontier (PPF) shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently employed If we increase our output of consumer goods (i.e. However moving into the unattainable region would be better for the economy. C) inefficient. c. the country’s technology is superior to the technologies of other countries. For a country, there can be thousands of products that it can make and a near-infinite combination of production possibilities. Let’s understand PPF, with an example:- Below is the tabular data of two products (Soap and Pencil), production of which can be done optimally with the help of Production Possibility Frontier. The points in between L and M represent all the possible combinations of agricultural and manufactured goods that are currently possible. d. All of the above are correct. Reaching at this point be better for the economy complex when there are several items choose... 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