PPF PPF2 Conaumer Good Pick two points that represent an economy growing from an

Question

PPF PPF2 Conaumer Good Pick two points that represent an economy growing from an inefficient level of production to another inefficient level of production. Explain your choice briefly. Pick two points that represent an economy growing from an efficient level of production to another efficient level of production. Explain your choice briefly Pick two points that represent an economy growing from an inefficient level of production to an efficient level of production. Explain your choice briefly. a. b. c.

Explanation / Answer

Consider PPF1

A. Movement from point c to point d represent movement from one inefficient point to another inefficient point. As they both lie inside the PPF and imply less than full utilisation of resources.

B. Movement from point a to point e represent movement from one efficient point to another efficient point. As they both lie on the PPF and imply full utilisation of resources.

C. Movement from point d to point a represent movement from one inefficient point to an efficient point. As they imply movement from inside the PPF to on the PPF.

Note: one complete question at a time

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