An outward shift of the production possibility curve show...
An outward shift of the production possibility curve shows that
Production is shifting to the left
Resources are under-utilized
Economic growth has taken place
Factors of production are moving outward
Correct answer is D
Increases in the production possibilities curve are represented by shifts outward, or to the right, while decreases are represented by shifts inward, or to the left.
When using a PPC, growth is defined as an increase in potential output over time, and illustrated by an outward shift in the curve. An outward shift of a PPC means that an economy has increased its capacity to produce all goods.
Indicate which of the following are invisible trade items in a country’s balance of payments? ...
The fundamental economic problem in every society is ...
Under conditions of perfect competition, a firm's supply curve is determined by its ...
\(\begin{array}{c|c} \text{Output(kg)} & 240 & 450 & 580 & 630 \\ \hline \text{MR...
Economic development may be hindered if there is ...
The commercial banks differ from non-bank financial institutions because they ...
To protect farmers during a bumper harvest, the government usually ...
When a variable is associated with time period, it is ...
Goods sold in perfectly competitive markets are generally ...
Which of the following is an advantage of free enterprise economy? ...