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B. productivity has increased. ANS: c. While operating within the boundaries of the production possibilities curve, more of both goods can be attained if efficiency is improved. D. society has chosen a different set of outputs. c. at the bottom corner of the curve. Any point inside the production possibilities curve is a (an) a. efficient point. b. unfeasible point. This curve represents a mere production possibility between a durable and a consumer good, FMCG--fast moving consumer good. Concepts covered include efficiency, inefficiency, economic growth and contraction, and recession. A point inside of the production possibilities curve is inefficient because it is possible to produce more of one or both goods without opportunity cost. Lable a point G outside the curve. When an economy is in a recession, it is operating inside the PPC. 30 seconds . If an economy is operating at a point inside the production possibilities curve (a) its resources are being wasted (b) the curve will begin to shift inward (c) the curve will begin to shift outward’ (d) this is a trick question because an economy cannot produce at a point inside the curve. b. at the top corner of the curve. Find the combination of 2,000 WMD and 40,000 pounds of Food. When it is at full employment, it operates on the PPC. Why is this an inefficient point? In this video, Sal explains how the production possibilities curve model can be used to illustrate changes in a country's actual and potential level of output. Tags: Question 5 . The PPC shows the maximum available possibilities which an economy can produce. Opportunity cost is C. productivity has declined. d. maximum output combination. e. inside the curve. Why are points A through E all efficient points? Outside the curve. An output combination that is unobtainable with the current. Opportunity costs are constant. c. inefficient point. During World War II, what was an opportunity cost of the decision to increase production of military goods? 2. Production possibility curve shows the different combinations of the production of two commodities that can be achieved in an economy given the resources and technology which are to be fully utilized. If a point falls inside the production possibility curve it means either the resources are under utilised or there is unemployment in the economy. Explain. Does this production possibilities curve reflect the law of increasing oppurtunity costs? Inside the curve. When all these points of different combinations of production of the two goods are joined, they form a Production Possibility Curve. Resources are being used very efficiently. A production possibilities curve … SURVEY . possibilities curve. 88. 9. Operation of the Economy on the PPC. A point beneath the curve indicates inefficiency, and a point beyond the curve indicates impossibility. Label a point F inside the curve. 7. At the given points, it is necessary to go through the curve in determining the answers for your question (and this means that you have to do your ground work on curves!! High on the curve. d. outside the curve. Using a production possibilities curve, unemployment is represented by a point located a. near the middle of the curve. Why is the point unattainable. Tags: Question 3 . SURVEY . A movement along the production possibilities curve would imply that: A. the labor force has grown. Low on the curve. If an economy is producing at a point inside a production possibilities curve: A. the economy is efficient. the shape of the production possibilities curve illustrates the law of increasing cost. A point inside a production possibilities curve indicates Resources are not being used efficiently. Label this point D. 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Society has chosen a different set of outputs a production possibilities curve is a ( an ) efficient!

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