It helps an economy select from its scarce resources in a way to achieve the most good. See the Related Link below
production possibility frontier shift leftward
production possibility curve
With the introduction of new technology and new resources will shift the production possibility frontier.
Importance of production possibility curve in allocation resources
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
production possibility frontier shift leftward
production possibility curve
With the introduction of new technology and new resources will shift the production possibility frontier.
Importance of production possibility curve in allocation resources
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
other names for production possibility boundary are: production possibility curve production possibility frontier transformation curve.
Production Possibility Frontier.
under what conditions an econoy would be operating inside its production possibility frontier?
as in production possibility curve compares production rates of two commodities, this compares prices of different commodities.
How would a production possibility frontier would be effected by a reduction in the standard number of hours worked?
Setting up efficient production
quantities of productive inputs