
Understanding the Production Possibilities Curve

Flashcard
•
Social Studies
•
12th Grade
•
Hard
Wayground Content
FREE Resource
Student preview

10 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Which of the following best describes a point that lies inside the production possibilities curve (PPC)?
Options: Efficient use of all resources, Inefficient use of resources, Unattainable with current resources, Maximum possible output
Back
Inefficient use of resources
2.
FLASHCARD QUESTION
Front
If an economy is producing on its production possibilities curve, what does this indicate about its resource utilization?
Back
All resources are fully employed
3.
FLASHCARD QUESTION
Front
Which of the following would cause the production possibilities curve to shift outward? A decrease in available resources, An improvement in technology, Increased unemployment, A decrease in population
Back
An improvement in technology
4.
FLASHCARD QUESTION
Front
If a country moves from a point inside the PPC to a point on the PPC, what has most likely happened?
Back
The country has improved efficiency.
5.
FLASHCARD QUESTION
Front
Suppose an economy can produce either 100 units of good X or 200 units of good Y using all its resources. What is the opportunity cost of producing 1 unit of good X in terms of good Y?
Back
2 units of good Y
6.
FLASHCARD QUESTION
Front
Given a PPC that is bowed outward, what does this shape indicate about opportunity costs?
Back
Opportunity costs are increasing.
7.
FLASHCARD QUESTION
Front
A country is currently producing at point A on its PPC, specializing in agricultural goods. If it wants to increase the production of manufactured goods, what must it do, and what is the economic implication?
Back
Decrease agricultural goods to increase manufactured goods, incurring opportunity cost
Create a free account and access millions of resources
Similar Resources on Wayground
8 questions
Scarcity

Flashcard
•
12th Grade
12 questions
Economics Flashcard

Flashcard
•
12th Grade
10 questions
Production Possibility Curves (Live)

Flashcard
•
9th - 12th Grade
11 questions
1.1 Enterprise Definitions Flashcards

Flashcard
•
12th Grade
17 questions
The Production Possibilities Curve

Flashcard
•
11th - 12th Grade
17 questions
The Production Possibilities Curve

Flashcard
•
11th - 12th Grade
10 questions
Causes of the Industrial Revolution

Flashcard
•
10th Grade
6 questions
C1S3 Review Flashcard

Flashcard
•
12th Grade
Popular Resources on Wayground
10 questions
Lab Safety Procedures and Guidelines

Interactive video
•
6th - 10th Grade
10 questions
Nouns, nouns, nouns

Quiz
•
3rd Grade
10 questions
9/11 Experience and Reflections

Interactive video
•
10th - 12th Grade
25 questions
Multiplication Facts

Quiz
•
5th Grade
11 questions
All about me

Quiz
•
Professional Development
22 questions
Adding Integers

Quiz
•
6th Grade
15 questions
Subtracting Integers

Quiz
•
7th Grade
9 questions
Tips & Tricks

Lesson
•
6th - 8th Grade
Discover more resources for Social Studies
25 questions
Psychology Perspectives Review

Quiz
•
11th - 12th Grade
27 questions
Unit 2: CFA 3 (Standard 3)

Quiz
•
12th Grade
36 questions
Unit 2 Test Review

Quiz
•
12th Grade
9 questions
Climographs

Quiz
•
9th - 12th Grade
30 questions
The American Civil War: Cause, Course, and Consequences

Quiz
•
9th - 12th Grade
30 questions
AP Human Geography Unit 1

Quiz
•
9th - 12th Grade
59 questions
Unit 3 Macroeconomics Test Review

Quiz
•
12th Grade
20 questions
Psychology: Ch 2 Test Prep (Research Methods & Stats)

Lesson
•
9th - 12th Grade