Economics PPC

What does PPC stand for?

• Production Possibility Curve

• Possibility Production Curve

• Pay-Per Click

What is the oppurtunity cost of point B to D?

• 150 Clothes

• 50 Food

• 100 Food

• 100 Clothes

What is the opportunity cost from point B to C?

• 25 Clothes

• 75 Food

• 25 Food

• 100 Clothes

Why is the PPC shifted to the right?

• Increase in Quality or Quantity in Land, Labour, Capital and Enterprise.

• Decrease in Quality or Quantity in Land, Labour, Capital and Enterprise.

Why is the PPC shifted to the left?

• Increase in Land, Labour, Capital and Enterprise.

• Decrease in Land, Labour, Capital and Enterprise.

What does point F show?

• Suffcient resources to produce any type of goods.

• Resources are used efficiently

• Resources are used inefficiently

• Unemployement of Resources

• Scarcity

What does point E show?

• No Resources

• Resources used effciently

• Unemployement of Resources

• Economic Problem

What is this diagram called?

• Triangular PPC

• Straight Line PPC

• Sloping down PPC

This diagram is realistic.

• True

• False

What is the basic meaning of PPC?

• It is a curve that shows all of the different combinations of output that can be produced given current resources and technology.

• It is a curve that shows the maximum output of two types of products and combination of those products that can be produced with existing resources and technology.

• It is a curve that shows the maximum output of products which is produced by combining the factors of production.

• All the given options are correct