Production possibility curve Flashcards
1
Q
Shift
A
A shift in the ppc i when there’s a change in the country’s resources that cause the amount of two goods that are produced to change..
2
Q
Pivot
A
A pivot is when one product in the ppc increase or decrease due to changes in the country.
3
Q
Factors that could cause a shift in the ppc
A
Economic growth, Discovery of new natural resources, Growth population, Technical progress, Improvement in labour production