3. Can you explain this answer? x6�2� d ppt/slides/slide12.xml�V�n�8}_��@�ݑ��#u�X�� mc$.��PtD�"�$��X���"�NR������9�3��p�8�Sm��dr1ND6L. T/F Moving from a point on the production possibilites curve to another point on the same curve implies a gain in production efficiency . ��px]GϔM���?�U�����;�Ҟڴ�6`� �� PK ! ��L��,�a�7� ����-�k|j�եb��u|}��F�Q��t��TP�1\�"O���t+�s�����f��r���'*�=���~�P�)W�2?xiGQ�Uh
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?N��~.�ksc��unL~�ύɏ�1��G7&?~���g{���g�������#�KTrO�p�Au��c���Wt��Q�u�u����g�ۤ~�䗁+��v� true: production efficiency implies that the production of one good can be increased only if the production of another good is decreases, which is true only on the PPF itself. �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! The PPC shows the combination of goods and/or services that can be produced with the available shared resources. �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! Productive efficiency means that, given the available inputs and technology, itâs impossible to produce more of one good without decreasing the quantity of another good thatâs produced. Productive inefficiency implies that it is impossible to produce more of one good and no less of another. PK ! Answers of A movement along a PPC impliesa) Redistribution of technologyb)Redistribution of wealthc) Reallocation of incomed) Reallocation of resourcesCorrect answer is option 'D'. Efficiency is a favourite objective of economists and administrators, but not everyone agrees on its meaning. L��K� � ppt/_rels/presentation.xml.rels �(� ���N�0E�H�C�=M���"R6���&�����ѿ�*�$Uu��'��h��\]m�샜o�)�"#Sٺ1�R��_�u�e��jM�G�#�,����n�w�z�+�UQLs��!��]] The New Classical Explanation of Business Cycles 2. ppt/slides/_rels/slide22.xml.rels��AK�0���!�ݤ�AD6�t�C2m�m2�b���"-����y��{�p�Zf�I�C�Z݀��q��~~�{ ł��"YX�����^iF�G�fHeA�cMF��#��i�M�2��1��[('߁:����N�=%wY(ʕ����S�bI,h����NW>������?q/����zm�����fvo� �� PK ! K�=� 7 ! The movement along the PPC from left to right shows that in order to produce more units of capital goods, the economy must sacrifice some amount of consumer goods. A movement along PPC implies that more of good X is produced by sacrificing the production of a certain amount of good Y. PPC is also called opportunity cost curve because slope of the curve at each and every. �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! 2. Can you explain this answer? F . ppt/slides/_rels/slide19.xml.rels�Ͻ �2�9�ϚZ^#�2[�lA���� �� PK ! ADVERTISEMENTS: The Production Possibilities Curve: Assumption, Uses or Application! Productive efficiency means that, given the available inputs and technology, itâs impossible to produce more of one good without decreasing the quantity of another good thatâs produced. The Rate of Transformation on the PPC is the rate of economically efficient exchange; it tells us the Opportunity Cost of one good in terms of another. �|�t!9�rL���߰'����~2��0��(H[s�=D�[:b4�(uH���L'�e�b���K9U!��Z�W���{�h���^���Mh�w��uV�}�;G�缦�o�Y�D���S7t}N!�3yC���a��Fr�3� �� PK ! �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! Efficiency, in economics and organizational analysis, a measure of the input a system requires to achieve a specified output.A system that uses few resources to achieve its goals is efficient, in contrast to one that wastes much of its input. In making accounts efficient, I tend to worry that Iâm leaving conversions on the table. k;�� 7 ! the shape of the PPC is concave i.e moving from left to right i.e as we move downwards along the PPC the MRT rises. ��Ra���^v (�d}t>O�O/ �b���HVb؏��Z��#�}f�(�5̵�W����e��dJ%`meq*�9�#5tݳ*�7Lq��� Nk����4yCo�\�z'B�в���AJ�z���2G�F���xKG\ӥndn���A��3����
�� PK ! All choices along the PPF in Figure 1, such as points A, B, C, D, and F, display productive efficiency. A position inside the PPC such as R in the figure below is indicative of X-inefficiency. [#f�� � ! Production Possibility Curve (PPC) is the locus (the path of a moving point) of various combinations of two commodities which can be produced with given level of resources and technology. However, along a PPC, all combination of output uses all the inputs. You can study other questions, MCQs, videos and tests for Commerce on EduRev and even discuss your questions like
�h!� � ! The bowed-out curve of Figure 2.5 âThe Combined Production Possibilities Curve for Alpine Sportsâ becomes smoother as we include more production facilities. Any point along the contract curve for consumption b. �eDF ppt/presentation.xml��n� ��O�=X��R��ũ��L�:)j�`6i�bc�Ǧ���8 U�ȯ ����s�����,x�B6�+�T�� �-���|��ˬ���J�)���@�trJJ�T? h�t� � _rels/.rels �(� ���J1���!�}7�*"�loD��� c2��H�Ҿ���aa-����?�$Yo�n
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32�����G��>�(�����Rl�K�ʦ�4�\�ԫh������zUiɀv�{�!�]�8G|�M]�-~��L�(#��a���c� �B^Z^dჺ_���Z�w03]��B_��毚Z��� �� PK ! Full and efficient use of the resources - at any point along the PPF we have productive efficiency. Any point on the PPC c. Any point on the PPC where MRS=MRPT d. A situation where each consumer achieves maximum utility simultaneously 4) Distinguish between the allocative and the distributive functions of government. Production Possibility Curve (PPC) will be concave to the origin because of the increasing opportunity cost. As we move down along the PPC, to produce each additional unit of Good X, more and more units of Good Y needs to be sacrificed. In the chart, the red curve represents all possible choices of production for the economy. The reason for the shape of the Production Possibilities Curve (PPC) is something called the law of increasing opportunity costs. Nov 29,2020 - A movement along a PPC impliesa) Redistribution of technologyb)Redistribution of wealthc) Reallocation of incomed) Reallocation of resourcesCorrect answer is option 'D'. ppt/slides/_rels/slide16.xml.rels�Ͻ �h]�� � ! A Movement from point B to C implies that as the production of food decreases from 30 tons to 20 tons, the production of guns increased from 2 million to 3,5 million. from A to E ), we observe that in order to produce more units of capital goods, the economy must sacrifice some amount of consumer goods.In other words, it reflects the opportunity ⦠Production Possibility Curve (PPC) is concave to the origin because of the increasing opportunity cost. | EduRev Commerce Question is disucussed on ⦠To try and quantify this notion ⦠Prices determine the position on the PPC. �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! Which of the following are assumptions underlying the PPC? And Iâm not talking about bidding on a root term in a broader match type in order to secure a few more conversions â Iâm concerned that overall account decisions are limiting additional qualified traffic. is done on EduRev Study Group by Commerce Students. ppt/slides/_rels/slide13.xml.rels���J�0��;��m��]&���t|�М���B���Fma�(Y�4��ǟE��O�g`�Њ"�(Uk.TK����n�2��� K�=� 7 ppt/slides/_rels/slide2.xml.rels�Ͻ In the above figure, as we move downwards along the PPC from left to right (i.e. Question bank for Commerce. The black dots ⦠Td�c�j�&���Z�7F�3bƖK1�n�"`��y�M�W67�=3�똖�S����@�c���՟$)F��B1B�Mw)�t� 0��Z��A��妫�ѝ,�v���y��lC��蒳�^4�َ)����諩�m5=��W
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�� PK ! community of Commerce. �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! All the above. ppt/slides/_rels/slide10.xml.rels���J1����n��Vi� (��Cu{������qYHQ���{s���;���ڀ K�=� 7 ppt/slides/_rels/slide6.xml.rels�Ͻ It shows businesses and national economies the optimal production levels of two distinct capital goods competing for the same resources in production, and the opportunity cost associated with either decision. And this causes the concave shape of PPC. ���� � ! T/F if demand is inelastic, the absolute value of the price elasticity of demand is between 0 and 1 ... C- there is mvt along the PPC �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! c\#�� 7 ppt/slides/_rels/slide1.xml.rels�Ͻj�0�=�w�W�;�,e)C��>�!�mQ[:��o�1t�x_�?�]��,�(��AC+lt>�~n_�'\08�c
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Along a PPC all points are efficient and feasibly attainable. K�=� 7 ! That is, as we move down along the PPC, the opportunity cost increases. soon. ���� \ [Content_Types].xml �(� ̚]o�0��'�? 15) 16)A point inside a production possibilities ⦠All choices along the PPF in Figure 2, such as points A, B, C, D, and F, display productive efficiency. A movement along a PPC impliesa) Redistribution of technologyb)Redistribution of wealthc) Reallocation of incomed) Reallocation of resourcesCorrect answer is option 'D'. b) The state of technology is maximized. New Keynesian Explanation of Business Cycles. agree to the. ��>���f��?$i龽�PK�c&3��c����Fv��m��F^m���{{x�z�c�$a����n�A#�:�3��%��!��a�!��? use the PPC to illustrate what happens to the allocation of resources and technical efficiency along a production possibilities curve distinguish between technical efficiency and allocative efficiency and explain why the PPC curve can be used to explain technical efficiency but not allocative efficiency True/false: along a bowed-out PPF, as more of a good is produced, the opportunity cost of producing the good diminishes. CY=Җ�3��Nkk.Z�tW��զߚ�l���έ�����qJd��oM�\6���F "0�k���E���g}#��H��%@0�Ig�(�fD+��Y���+*?;��bpyoΣ�U|�>=x��������.��FϊO.s�Av�A�v�Av�A�v�Av�A�v�!�=W>?��C>?��C>?��C>���|~����r����. ppt/slides/_rels/slide26.xml.rels��1k�0��B���=��!�9K)25�8��-bKB����G Scarcity implies that a production possibilities curve is downward sloping; the law of increasing opportunity cost implies that it will be bowed out, or concave, in shape. Move from point B to C). �sZQ� � ppt/slides/_rels/slide8.xml.rels���j1E�@�AL�z��n���*80H�Z��Iٿ�B/�H�r^�f������\\ ppt/slides/_rels/slide27.xml.rels��1k�0��B�������-%r�Rdj� ��-b�N ���:lȐ��{�����L��bbOAC-+,9z
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Production Possibility Curves (PPC) ... As long as the economy is producing along the curve, we consider each production combination to be efficient. As we move down along the PPC, to produce each additional unit of one good, more and more units of other good need to be sacrificed. K�=� 7 ppt/slides/_rels/slide4.xml.rels�Ͻ 6d����ރ���Q�)�^C-+�M����.�W��[�'
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�>KP�� point measures opportunity cost of one commodity in terms of alternative commodity given up. Can you explain this answer? Only two goods are produced; Technology, population, and capital are variable. K�=� 7 ! �a�\^��hD.Cy�1�B�Y����z �� We can draw the PPC on the basis of above schedule. ���AG�U�qy{~Q*Cs�`���is8�L��ɥ"%S�i�X�Ğ���C��1{����O��}��0�3`X1��(�'Ӄ�,����4�F}��t�e7 e�U����8���d �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! This has been done in Figure 5.5 in which along the X -axis consumer goods and along the Y-axis, capital goods are measured. I struggle with the notion that Iâm making my keywords too specific or that Iâm limiting ad exposure in other ways.