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4.1 The PPC Model

Authored by Kelly Kreitman

Social Studies

9th - 12th Grade

Used 1K+ times

4.1 The PPC Model
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11 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the production possibilities curve?

a graph that shows the combinations of two goods an economy can produce with scarce resoruces

the opportunity one has to give up in order to gain something else

a model showing the way factors of production (land, labor, capital, entrepreneurs) become goods and services

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a production possibility curve show that scarcity exists?

It shows that a rise in demand for one of the products increases its price.

It shows that as more resources are used to produce a product, its price rises.

It shows that at any point outside the production possibility curve an economy is wasting

resources.

It shows that there is a limit to the quantity of products that can be produced with existing resources and technology.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The production possibilities curve is an illustration of what?

Opportunity costs and trade-offs
Only opportunity costs
Only trade-offs
none of the above

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How are opportunity costs represented on the PPC model?

The slope between two points showing how much of one you give up to gain more of the other

The position of a point inside, on, or outside the line

The shifting of the curve outwards (away from the origin) or inwards (towards the origin)

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

If a point lies on the curve this means the company/country/individual is being efficient. If a point lies inside the curve, what does that tell?

They are being over efficient

They are being inefficient

It is not impossible with the given resources

They are still efficient, just at another point

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What does point Y represent on the PPC?

Efficiency
Unattainable / impossible
Inefficency
Nothing

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the opportunity cost of moving from production point C to production point D?

3 power drills

4 power drills

1 ski

3 skis

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