Production possibilities 1 3 trade offs and opportunity costs can be illustrated using a production possibilities curve. Product possibilities curve worksheet.
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Production possibilities curve worksheet answers.
Production possibilities curve worksheet answers. Analyze the different locations of points on outside and inside a production possibilities curve. This activity requires them to apply what they have learned by using the information on the curve to answer a series of questions. Production possibilities curve frontier worksheet use the space below to answer the following question.
Get free access see review. Figure 1 ppc shows the production possibilities curve for the economy of alpha which makes weapons of mass destruction and food. 50 40 30 20 0 draw a production possibilities curve for butter and guns using the data above.
Ppc shows all the possible combinations of 2 goods or services. Construct production possibilities curves using hypothetical data. 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.
Production possibilities curve worksheet answers given fixed constraints of production factors the production possibilities curve shows the possible combinations of production volume for two goods in all choices along the curve shows production efficiency of both goods. If all resources are devoted to the production of food alpha can produce 140 000 pounds of food. If this economy is presently producing 12 units of good b and 0 units of good a.
In order to produce 1 500 wmd the opportunity. Apply the concept of opportunity cost to a pro duction possibilities curve. 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.
Production possibilities curve name key 1. Ppc practice answer key displaying top 8 worksheets found for this concept. About this quiz worksheet.
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. Production and cost curves represent distinct relationships between different economic variables and these assessments will provide a way to check your understanding. Label the points where the economy would be efficient a underutilized b and unattainable c.
What is the opportunity cost of moving from point a to point b. Demonstrate and explain different shaped pro duction possibilities curves.
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