Ppc Flashcards
1
Q
Assumptions
A
Only two items can be produced
Resources are fixed in the long term
More of one can only be produced by reducing the other
2
Q
Where do countries operate
A
Within the curve
In Aus our unemployment is at 5.6%
3
Q
What creates a new curve
A
New resources being found or new technology
4
Q
What causes movements along the curve
A
Demand
5
Q
What causes the point to move within the curve?
A
Utilising already existing resources (lowering unemployment)
