They are inside the production possibility frontier. Put students in small groups and distribute copies of the production possibilities curve group activity showing the production possibilities curve for the country of alpha.
Ppc practice answer key displaying top 8 worksheets found for this concept.
Interpreting a production possibilities curve worksheet answers. In order to produce 1 500 wmd the opportunity. Label the points where the economy would be efficient a underutilized b and unattainable c. In this economics worksheet students respond to 12 short answer questions after they read a brief description of long run aggregate supply and the production possibilities curve.
130 117 109 89 0 draw a production possibilities curve for robots and wheat using the data above. If society is presently producing 200 units of butter what is the cost of producing an extra 100 units of butter. Some of the worksheets for this concept are production possibilities curve tradeoffs production possibilities frontier ppf work unit 1 microeconomics lesson 2 unit 1 basic economic concepts ppc 1041 deskbook practice aids unit 1 macroeconomics lesson 1 ppc tax deskbook and planning guides multiple choice on.
Calculations good economists can write clearly interpret data and can undertake numerical calculations. The production possibilities frontier ppf for short also referred to as production possibilities curve is a simple way to show these production tradeoffs graphically. Points b c d and h are feasible but inefficient.
The production possibilities curve is also called the ppf or the production possibilities frontier. The ppf simply shows the trade offs in production volume between two choices. If the economy represented by figure 2 1 is presently producing 12 units of good b and zero units.
If all resources are devoted to the production of food alpha can produce 140 000 pounds of food. Production points inside the curve show an economy is not producing at its comparative advantage. Write the correct answer on the answer blanks or underline the correct answer in parentheses.
This activity requires them to apply what they have learned by using the information on the curve to answer a series of questions. Figure 1 ppc shows the production possibilities curve for the economy of alpha which makes weapons of mass destruction and food. Production possibilities curve name key 1.
Part a use figures 2 1 and 2 2 to answer these questions. Get free access see review. Here is a guide to graphing a ppf and how to analyze it.
Another name for a production possibility curve is an cost curve. All choices along the curve shows production efficiency of both goods. What is the opportunity cost of moving from point a to point b.
Label the axes. Something else is often represented in graphical form as a production possibilities curve. A production possibility curve shows the maximum output of products with existing resources and.
At igsce o level the calculations involve additions subtractions.