Points outside the PPF such as point G are unattainable. Production levels to the left of the PPF are: A. attainable but efficient. C. the Industrial Revolution. All choices along the curve shows production efficiency of both goods. A PPF would show this relationship between work and sleep (with the constraint of time in a day). D. unattainable and inefficient. Practice: Interpreting graphs of the production possibilities curve (PPC) attainable and neither efficient nor inefficient. This is the currently selected item. Production points inside the curve show an economy is not producing at its comparative advantage. The production possibilities curve is also called the PPF or the production possibilities frontier. Attainable and Unattainable Combinations • Because the PPF shows the limits to production, it separates attainable combinations from unattainable ones. B. jobless recoveries. Attainable and Unattainable Combinations: PPCs for increasing, decreasing and constant opportunity cost. Figure 3.2 shows attainable and unattainable combinations. attainable but inefficient. The points inside and on the PPF are attainable for the firm. somheder For each point on the PPF, use the table below to indicate whether the point is attainable and efficient, attainable and intento n Production possibilities frontier a Good Y Good X Point Analysis Attainable and efficient : Attainable and inefficient : Attainable and efficient Attainable and inefficient Unattainable mo Using our analysis of Marginal Opportunity Cost (MC) from before, we see that the Slope (absolute value) of the PPF is the Marginal Cost of the good on the horizontal axis. The production possibilities frontier (PPF for short, also referred to as production possibilities curve) is a simple way to show these production tradeoffs graphically. ii. One of the central principles of economics is that everyone faces tradeoffs because resources are limited. Answers: unattainable. This article will describe how to derive and draw a PPF given information from a table. D. the Internet boom. The points that lie inside the PPC means that the actual production is falling short of its capabilities and there is a wastage or inefficient utilization of resources. Trade between countries allows nations to consume beyond their own PPF. The Production Possibilities Frontier . Chap 2 econ flashcards start studying chap 2 econ learn vocabulary terms and more with flashcards games and other study tools the unattainable points in a production possibilities best answer a the points outside the ppf the points inside the ppf on the ppf and along the axis are all attainable. B. attainable but inefficient. A country would require an increase in factor resources, an increase in the productivity or an improvement in technology to reach this combination. Points outside the PPF (i.e. But, economy cannot operate outside PPF, known as ‘Unattainable Combinations’. Combinations that lie beyond the PPF are unattainable at the moment. The PPF separates attainable combinations from unattainable ones. Economy cannot operate at any point outside PPF as it is unattainable with the available productive capacity. We could increase total output by moving towards the PPF. Economy can either operate on PPF or inside PPF, known as ‘Attainable Combinations’. Lesson summary: the production possibilities frontier. Now, we can plot this table on a graph to obtain production possibility curve, which is shown in Figure-1: In Figure-1, the production possibility point’s g and h are attainable combinations, whereas c and e are unattainable combinations. The PPF simply shows the trade-offs in production volume between two choices. It means: i. Question 11 Productive efficiency implies that Selected Answer: gains are impossible in one area without losses in another. C. unattainable and efficient. 3. The point of PPF that are attainable are called the attainable combinations. attainable and efficient. These tradeoffs are present both in individual choice and in the production decisions of entire economies.. Macroeconomics was developed to explain: A. the Great Depression. Point C), while preferable, are unattainable given constraints in resources and time. Question 10 The point where the PPF intersects the horizontal axis is Selected Answer: attainable and efficient.
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