production possibility curve

Question 1

what does production possibility curve shows

Answer 1

. maximum output of 2 type of products
, combination of those products
. produced with the existing quantity
. quality of recourses and technology

Question 2

what does production point shows

Answer 2

. what is being produced

. what maybe produced in the future

Question 3

what doe any point inside the curve shows

Answer 3

there is not full use of resources

Question 4

what does any point on the curve shows

Answer 4

maximum use is bieng made of resources

Question 5

what is the point outside the curve shows

Answer 5

unattinable

Question 6

what does movement around the ppc shows

Answer 6

that resources are bieng rellocated

oppportunity cost of that decision

Question 7

a country initially deciding to produce 80 units of manafactured goods and 75 unit of agricultural goods if it then decide to produce 100 units of agricultural goods what should they do

Answer 7

have to switch resources resourses away from producing manafactured goods