Economics - PPC

Front

What does the points outside of the curve's range represent?

Back

unobtainable ; unattainable

Front

What is the cause of a positive economic growth? Options: New technology, education, lack of resources; New technology, improved efficiency and education; Improved education, training, old resources; developed resources, underdeveloped technologies

Back

New technology, improved efficiency and education

Front

What causes the curve to shift inwards? Options: decrease of curves, development of technology, fall in a nation's supply side or productive capacity, inward facing graphs

Back

fall in a nation's supply side or productive capacity

Front

Why are points out of the curve's range unattainable?

Back

they require more resources than are available

Front

Why is the PPC curved?

Back

law of increasing opportunity cost

Front

PPC portrays

Back

maximum productive potential of an economy

Front

The law of opportunity cost is...

Back

increase production of one good, the opportunity cost of producing the next increases

Front

Opportunity cost is...

Back

if you study extra two hours, the opportunity cost is the two hours leisure that now you cannot have

Front

On this PPC, which point is efficient? Options: A, C, D, None

Back

A

Front

On the PPC, which point is inefficient?

Back

C