B. the combination of goods and services that can be produced efficiently. Answer: A Topic: Production Possibilities Frontier Skill: Recognition AACSB: Reflective thinking 4) The production possibilities frontier itself illustrates A) ⦠Have you been to a frontier lately? B) how tradeoffs need not occur if the economy is efficient. The production possibilities frontier itself illustrates A) all goods that can be produced by an economy. B)all goods and services that are desired but cannot be produced due to scarce resources. Have you been to a frontier lately? The production possibility frontier (PPF) is a graph that shows all maximum combinations of output that an economy can achieve, when available factors of production are used effectively. 4) Moving along the production possibilities frontier itself illustrates A) the existence of tradeoffs. The PPF for country 1 is necessarily closer to the origin (or further to the left) than the PPF for country 2. c. If country 1 is productive d. C) all goods and services that are desired but cannot Production Possibilities Frontier: A production possibilities frontier illustrates all bundles of goods that can produced if all inputs are being used to their fullest. C. all goods and services that are desired Topic: Production Possibilities Frontier Skill: Recogniti on Status: Previous edition, Chapter 2 AACSB: Reflective Thinking 4) The production possibilities frontier itself illustrates A) all goods that can be produced by anB) the B) tradeoff between free lunches. Definition: Production possibilities frontier (PPF), also known as production possibility curve, indicates the maximum output combinations of two goods or services an economy can achieve by fully using all available resources efficiently. The following diagram (21.2) illustrates the production possibilities set out in the above table. How to solve: Explain how a PPC/F can be used to illustrate scarcity, choice, opportunity cost and productive efficiency. B) the combination of goods and services that can be produced efficiently. Have you been to a frontier lately? The production possibilities frontier itself illustrates A. all goods that can be produced by an economy. The production possibilities frontier is used to illustrate the economic circumstances of scarcity, choice, and opportunity cost. Within business analysis , the production possibility curve represents the various production levels of two goods requiring one resource that is available in a limited amount. In this episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains how the production possibilities frontier (PPF) illustrates some very important economic concepts. B In this diagram AF is the production possibility curve, also called or the production possibility frontier, which shows the various combinations of the two goods which the economy can produce with a given amount of resources. The production possibilities frontier illustrates the A) maximum combinations of goods and services that can be produced. C) maximum combinations of goods and services that can be In this episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains how the production possibilities frontier (PPF) illustrates some very important economic concepts. B) how tradeoffs need not occur if the economy is efficient. 16) Moving along the production possibilities frontier itself illustrates 16) A) the existence of unemployment of some factors of production. If country 1 is on its production possibilities frontier, then country 2 must be on its PPF, too. Have you been to a frontier lately? If the economy were to divide its resources between the two industries. This segment uses the fictional economy of Econ Isle to discuss how limited resources result in a scarcity problem for the economy. In this episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains how the production possibilities frontier (PPF) illustrates some very important economic concepts. Which of the graphs below best illustrates the impact on the production possibilities frontier of a 4: Sunk Production Possibilities A production possibility frontier is used to illustrate the concepts of opportunity cost, trade-offs and also show the effects of economic growth. 4) The production possibilities frontier itself illustrates A) all goods that can be produced by an economy B) the combination of goods and services that can be produced efficiently C) all goods and services that are desired butD) all Points within the curve show when a countryâs resources are not being fully utilised b. 19) The production possibilities frontier is the 19) A) boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced, given the available factors of production and the state of technology. E) production possibilities frontier will shift outwards. Whether you realize it or not, the economy has a frontierâit has an outer limit of economic production. 52) The production possibilities frontier is a graph showing the A) exact point of greatest efficiency for producing goods and services. Topic: Production Possibilities Frontier Skill: Recognition Status: Previous edition, Chapter 2 AACSB: Reflective Thinking 4) The production possibilities frontier itself illustrates A) all goods that can be produced by aneconomy. Definition: Production possibility frontier is the graph which indicates the various production possibilities of two commodities when resources are fixed. 47ããåéé¢ãThe production possibilities frontier illustrates 48ããå¤æé¢ãOpportunity cost measures the trade-off between two goods that each producer faces. The two endpoints of the production possibilities frontier represent these extreme possibilities. In this episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains how the production possibilities frontier (PPF) illustrates some very important economic concepts. The PPF illustrates how much of a good or service must be ⦠It could produce 700 cars and 2,000 computers, shown in the graph above by point A. The production possibilities frontier is a concept in the fields of both business analysis and macroeconomics. In this video I explain how the production possibilities curve shifts when there is a change in resources or a change in technology. You've reached the ⦠The production possibilities frontier illustrates the maximum combinations of goods and services that can be produced. 6)The production possibilities frontier illustrates A)all goods that can be produced by an economy. Whether you realize it or not, the economy has a frontierâit has an outer limit of economic production. A 16) Moving along the production possibilities frontier itself illustrates 16) A) the existence of unemployment of some factors of production. Whether you realize it or not, the economy has a frontierâit has an outer limit of economic production. B) the prices of both goods are identical. 3: The figure given below has four graphs showing the production possibilities frontier for capital goods and consumer goods. Whether you realize it or not, the economy has a frontierâit has an outer limit of economic production. 4/5 of an apple 4 apples 5/4 of an apple 1 banana None of the above answers is correct Moving along the production possibilities frontier itself illustrates how ⦠15) A production possibilities frontier illustrates the maximum amount of two different goods that can be produced if A) society is using all its resources in the most efficient manner possible. 49ããé 读ç解ãTable 3-3 Machine Minutes Needed to Make 1 Toothbrush Hairbrush Zimbabwe 3 10 Portugal 5 6 Assume that Zimbabwe and Portugal can switch between producing toothbrushes and producing ⦠C) goods and services that people want B) resources the economy possess, but not its level of technology. D) all possible production of capital goods Answer: B Topic: Production Possibilities Frontier Skill: Conceptual 7) The production possibilities frontier itself shows A) the maximum amount of resources available at any given time. 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