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| | Production - encyclopedia article about Production. |
 | | Thus an infant's language production may be a cry for assistance or nurture, a child's production might be a two-word sentence expressing some condition or statement of comprehension, a student's production might be a one-page essay, and a professional worker's production might be a one-act play. | | | This production information can then be combined with market information (like demand and marginal revenue) to determine the quantity of products to produce and the optimum price to charge. | | | The process varies somewhat from country to country and from production company to production company, particularly for independent films. |
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http://encyclopedia.thefreedictionary.com/production
(1747 words)
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| | Principles of Macroeconomics - Section 1: Main |
| | The production possibilities frontier is used to illustrate the economic circumstances of scarcity, choice, and opportunity cost. | | | In addition, the production possibilities frontier is "bowed outward." The curvature of the production possibilities frontier reflects the increasing opportunity cost when substituting one type of production for another. | | | The result is greater output per worker, an increase in production, and a rightward shift of the production possibilities frontier. |
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http://www.colorado.edu/Economics/courses/econ2020/section1/section1-main.html
(4698 words)
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| | Chapter 3 |
| | In terms of a production possibility diagram, the opportunity cost of producing a good is related to the slope of the production possibility frontier (at the point of production). | | | The marginal cost of producing a good rises because the opportunity cost of a product rises as more of a product is produced. | | | Production efficiency means that more of one good cannot be produced without decreasing production of another good. |
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http://academic.udayton.edu/ECO203/chapter_3.htm
(1079 words)
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| | ANSWER SHEET TO PROBLEM SET 2 |
| | We now have different production possibilities for Canada but not the U.S. The opportunity cost of producing hula-hoops is 4/2=2 jump ropes for the U.S., which is the same as in problem 2. | | | frontier would shift inward if the amount of land available were reduced. | | | From a to b the opportunity cost of an additional duck is 9/20 while the opportunity cost of an additional gooses is 20/9. |
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http://www.econ.iastate.edu/classes/econ101/herriges/Problems/Answ2.html
(856 words)
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| | PRODUCTION POSSIBILITY CURVE |
| | A production possibility curve shows how all of an economies available resources can be used to produce various combinations of goods and services. |
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http://www.sba.muohio.edu/plattgj/ECO202/Presentations/lposma01/sld018.htm
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| | Lecture 3. Aug. 28 - Ch. 3 |
| | Recall that we began our discussion of the production possibility frontier by considering a situation at a moment in time, with technology taken as given and the total resources available for production assumed to be fixed. | | | Since a society's total resources (factors of production) are limited, it is necessary to choose among relatively scarce commodities and it is desirable to avoid inefficiency. | | | However, if (in the absence of physical isolation) the individual specializes in production of one or a limited number of commodities, he or she will have the option of trading some of this production for other goods and services. |
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http://econ.la.psu.edu/~dshapiro/l03aug28.htm
(1592 words)
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| | The Production Possibility Frontier (Fixed Proportions Case) |
| | he production possibility frontier can be derived in the fixed proportions case by using the exogenous factor requirements to rewrite the labor and capital constraints. | | | The production possibility frontier is the set of output combinations which generate full employment of resources - in this case both labor and capital. | | | Points outside the constraint, such as B and D, are not feasible production points since there is insufficient labor resources. |
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http://internationalecon.com/v1.0/ch60/60c050.html
(402 words)
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| | PPF |
| | The classic economics example is to put government spending on a PPF and divide the spending between Defense Spending and Social Programs. | | | One obvious way for the PPF to shift positions is for the productivity of inputs (resources) in the economy to change. | | | Thus, if we want this frontier (this boundary) to shift positions, we need to have some underlying change in either the stock of resources or in the productivity of a given stock of resources. |
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http://www.business.uiuc.edu/ldebrock/econ102s04/oll/Chap02
(609 words)
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| | Production Possibilities Model |
| | The PPF is a stylized model of a macro economy that is presented to examine the production decisions in the economy and the problem of scarcity. | | | The concept of opportunity cost may be illustrated with the production possibilities frontier (PPF). | | | The concept of opportunity cost is illustrated with the production possiblities frontier. |
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http://nova.umuc.edu/~black/ec2.html
(413 words)
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| | Production Functions and the PPF |
| | The term factor prices is used by economists to refer to the prices of the factors of production, that is to the wages of labor, the cost of capital or the rent of land. | | | The minimum price for which anyone could sell a good and stay is business is the cost of production of that good; Ricardo showed that a profit markup would not really change the results we will find by assuming the minimum price is the actual price of the good. | | | The model can easily be modified to take into account more realistic production functions and to treat other issues such as the impact of international trade on the distribution of income. |
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http://www.pitt.edu/~upjecon/MCG/MICRO/PPF/PPF.html
(2447 words)
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| | Micro economy |
| | This law is valuable for a firm as for the entire economy and the production possibility frontier is used frequently in the business world to calculate the highest combination of resources between different products. | | | We shall see the same phenomenon occurring in international exchange when all the production costs of a country have an absolute value that is higher than the production costs of the other country. | | | For example, fresh fish product are inelastic because if their prices fall, the supplier has to sell instead to lost all its production. |
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http://www.freeworldacademy.com/newbizzadviser/fw4.htm
(5289 words)
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| | Revision Guru |
| | The PPF illustrates the concepts of choice and opportunity cost. | | | It is because of increasing opportunity costs that the PPF is bowed outwards, rather than being a straight line. | | | A nation is able to shift its PPF to the right (so that it can produce a greater amount of goods) in one of two ways: |
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http://www.revisionguru.co.uk/economics/ppf.htm
(398 words)
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| | [No title] |
| | Production Possibility Frontier, Trade & the Division of Labor ª ó ó ¨ Production Possibility Frontier ¨U Shows the various combinations of output that an individual or country could produce. ó ¨ Increasing Cost Assumption ¨± As you switch from the production of one good into the production of the other, the cost of producing additional units increases. | | | ¡ ± ² ó ¨ Constant Cost ¨ Cost of Switching from the production of one good to the other is constant. | | | All Land, Labor and Capital are equally good in the production of all goods. |
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http://www.cbi.msstate.edu/faculty/brussell/ppf.ppt
(109 words)
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| | Production Possibility Frontiers |
| | The slope of the Production Possibility Frontier measures the opportunity cost of producing one good in terms of the amount of the other good foregone. | | | The opportunity cost of an activity is the value of the resources used in that activity when they are used in their next best alternative. | | | Now, the production possibilities are divided into three parts. |
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http://instruct1.cit.cornell.edu/Courses/econ101-dl/lecture-ppf.html
(741 words)
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| | [No title] |
| | The cost of a resource used in the production of A decreases. | | | C) the accounting cost minus the indirect cost. | | | 13) When the production possibility frontier is a straight line, A) opportunity cost is increasing. |
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http://core.ecu.edu/econ/rothmanp/2113e1f01.doc
(1068 words)
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| | Comparative Advantage |
| | The opportunity cost of producing one more unit of a good is the number of units of another good that could have been produced with the same resources. | | | While the PPF is defined by labor productivity, the TPF is defined by relative prices. | | | In a very real sense, they have -- production not directly by applying labor to raw materials, but indirectly by exchanging the good in which they have a comparative advantage for a good that they do not themselves produce so efficiently. |
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http://www.pitt.edu/~upjecon/MCG/MICRO/COMPADV/CompAdv.html
(2001 words)
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| | Production Possibility Frontier graphs |
| | The resources that are shifted are those most efficient at butter production, least efficient at gun production. | | | The shift from curve A to curve B represents an expansion of the capacity of the economy to produce both guns and butters. | | | The shift from point B to point C shows a greater loss of guns and a smaller gain in butters. |
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http://www.agecon.purdue.edu/academic/agec217/deboer/other_pages/graph_prodposs.htm
(413 words)
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| | Tutor2u - shifts in the production possibility frontier |
| | Tutor2u - shifts in the production possibility frontier | | | An outward shift of the frontier shown in the (diagram above) implies that the opportunity cost of production has fallen. | | | More factor resources are exploited (perhaps due to an increase in the available workforce or a rise in the amount of capital equipment available for businesses to use). |
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http://www.tutor2u.net/economics/content/topics/introduction/shifts_in_ppf.htm
(304 words)
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| | Glossary |
| | Average Cost (AC): is the per unit cost of production. | | | Total Costs (TC): the sum of all costs of production. | | | Total Revenue (TR): the sum of all receipts to the firm (or all firms). |
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http://www.business.uiuc.edu/ldebrock/econ102s04/oll/glossary/glossary.html
(1028 words)
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| | ppc |
| | The Production-Possibility frontier presents the incremental trade-off between Health production and Nonhealth production (i.e., for each increase in Health production, an amount of Nonhealth production must be foregone). | | | The production-possibility frontier represents the most efficient trade-off between the production of one commodity versus the other. | | | The sum of health and nonhealth composes the Gross Domestic Product. |
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http://www.gwu.edu/~alemi/cartwri/mywebecon/ppc_files/ppc.htm
(192 words)
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| | Production Possibilities Frontier |
| | The consumption-possibilities frontier (sometimes called the budget constraint) is the line indicating which outcomes are affordable and which are not affordable. | | | The favorite assumption of economists is that individuals base their actions on the costs and benefits that they see. | | | The slope of the frontier in the graph above measures the costs facing Crusoe. |
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http://ingrimayne.saintjoe.edu/econ/ActionsResults/ProdPoss.html
(483 words)
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| | e14.html |
| | Now let us consider the combined Production Possibility Set of the two Individuals - that is for the society as a whole. | | | Now note that the slope measures the (technical) rate of substitution - and this determines the relatively strengths of the individuals in the production of the two goods. | | | But that is clearly crazy - for example, it is worse than shared production. |
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http://www-users.york.ac.uk/~jdh1/micro2/english/html/e141.html
(1406 words)
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| | General Business 765, Lecture 3 |
| | Opportunity cost is a concept that has little practical significance. | | | It is theoretically impossible for one country to have no comparative advantage in production with respect to another country. | | | Specialization of resources results in there always being an opportunity cost of production. |
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http://www.ssc.wisc.edu/~ekelly/genbus/homework1spring2001.htm
(489 words)
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| | Tutor2u - production possibility frontier |
| | A PPF is normally drawn as concave to the origin since the marginal productivity of allocating extra resources to one particular good may fall. | | | Because the curve is non-linear, the opportunity cost will change as we move along the production possibility frontier. | | | Points lying inside the PPF occur when there are unemployed resources or when the economy is not making efficient use of the scarce resources available. |
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http://www.tutor2u.net/economics/content/topics/introduction/ppfs.htm
(320 words)
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| | The Ricardian Model PPF |
| | In fact all production possibilities regardless of whether full employment is fulfilled is referred to as the production possibility set (PPS). | | | sing the two production functions and the labor constraint we can describe the production possibility frontier (or PPF). | | | Points inside the PPF are production possibilities but correspond to under-employment of labor resources. |
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http://internationalecon.com/v1.0/ch40/40c080.html
(250 words)
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| | The Ricardian Trade Model |
| | The output mix of each trading countries is determined by the business firms and their production decisions are guided by the world prices, rather than autarky prices. | | | Assume: The US has a comparative advantage in commodity 1, i.e., the PPF of UK is steeper than that of the US Figure 15. | | | Thus, the production mix of various products that these countries produce in autarky are different. |
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http://www.econ.iastate.edu/classes/econ355/choi/ric2.htm
(1422 words)
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| | Production Possibility Frontier |
| | The shape of this production possibility frontier illustrates the principle of increasing cost. | | | Internet Center for Management and Business Administration, Inc. | | | Because the two products are almost identical in this case and can be produced equally efficiently using the same resources, the opportunity cost of producing one over the other remains constant between the two extremes of production possibilities. |
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http://www.netmba.com/econ/micro/production/possibility
(504 words)
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| | Interpretation |
| | Figure C shows a shift of the production possibility frontier between 1985 and 1989. | | | According to Figure C, in 1989, production of G |
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http://william-king.www.drexel.edu/top/prin/txt/Neoch/ch2q/ch207.html
(23 words)
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| | Tutor2u Discussion Forum - Production Possibility Curve/Frontier |
| | Personally, I recommend you look for supply side policies which promote growth and then look at it from the opposite angle. | | | It usually happens when the long-run supply curve shifts to the left in AD/AS diagrams. | | | When can a production possibility curve be bowed inwards?? |
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http://www.tutor2u.net/forum/topic.asp?whichpage=-1&TOPIC_ID=15545&REPLY_ID=142451
(105 words)
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| | Production Possibility Frontier |
| | Any point inside the curve, (say U) indicates that some resources are unemployed or not used in the best possible way. | | | The Production- Possibility Frontier (or PPF) shows the maximum amounts of production that can be obtained by an economy, given the technical knowledge and quantity of inputs available. | | | Better efficiency means higher standard of living for its citizens.An economy inside the PPF is inefficient. |
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http://www.geocities.com/parasu41/PPF
(689 words)
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| | Production possibility frontier |
| | But if Tony serves 30 customers and spends the rest of the time making 30 bags of popcorn, production is inefficient. | | | Production possibility frontier is the boundary between those combinations of goods and services that can be produced and those that cannot. | | | If in an hour, Tony serves 30 customers and makes 60 bags of popcorn and production is efficient, Tony is on his production possibility frontier. |
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http://www.economicsplace.com/imic5e/glossary/productionpossibilityfrontier.html
(118 words)
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| | Production Possibilities |
| | A production possibilities curve identifies the amount of two goods or services that can be produced with a given amount of resources. | | | Summarize the relationships demonstrated by using a production possibilities curve? | | | James Perry has the chance to work at a store in the local mall during the the semester. |
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http://www.brazosport.cc.tx.us/~econ/macro/PPF.html
(270 words)
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| | Quiz #1 – September 10, 1999 |
| | The production of more of any one good will in time require | | | If an economy is currently operating at point A on the production |
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http://www.cbi.msstate.edu/faculty/brussell/pq1.htm
(962 words)
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| | NSDL Metadata Record -- A Production Possibilities Frontier Experiment: Links and Smiles |
| | Of course, it is this crucial factor that results in the increasing opportunity cost of production and the concave shape of the production frontier. | | | John Neral and Margaret Ray (1995) suggest a useful and instructive classroom experiment in which two products, "widgets" and "whajamas," are produced to study tradeoffs between outputs. | | | In the teaching of college and advanced placement economics, some of the characteristics of the production possibility frontier (PPF) are as difficult to convey as they are important to understand. |
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http://nsdl.org/mr/475367
(159 words)
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| | Production Possibility Frontier |
| | Economia would then be making full use of all the resources it has. | | | Economia can produce any amount of food and machinery that lies on the curve, or under it. | | | Put another way, the Production Possibility Frontier describes the set of all opportunities for production of machines and food that are available to us -- the opportunity set of Economian society. |
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http://william-king.www.drexel.edu/top/prin/txt/effch/ch3_ppffig.html
(398 words)
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| | ECON 1 Section Notes for 1 |
| | New technology, better workers, and more resources can shift the PPF out. | | | Note the relation of MRT to opportunity cost. | | | Not using all resources or not using best production method available. |
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http://www.ce.berkeley.edu/~kennethk/Econ1/1_23.htm
(305 words)
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| | EconPapers: The Geometric Construction of Production Functions that Are Consistent with an Arbitrary ... |
| | Abstract: The production-possibility frontier is strictly concave and negatively sloped if two commodities are produced according to linearly homogeneous, strictly quasi-concave production functions that use, with different intensities, two factors of production that are available in fixed supply. | | | In this paper, it is shown that any arbitrary, concave, negatively sloped production-possibility frontier can be generated by a pair of linearly homogeneous, quasi-concave production functions given fixed total endowments of two factors. | | | Thus, the construction of such arbitrary production-possibility frontiers places no other restrictions on the underlying production technology. |
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http://netec.wustl.edu/BibEc/data/Articles/cjeissuedv:25:y:1992:i:2:p:485-92.html
(238 words)
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| | Revision Guru |
| | Specialisation allows workers to gain skills in a narrow range of tasks. | | | This increase in labour productivity occurs for a number of reasons: | | | A chemist or post office might open in a small village, but finds that he has to sell other products in order to survive. |
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http://www.revisionguru.co.uk/economics/specialisation.htm
(327 words)
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| | The page cannot be found |
| | Open IIS Help, which is accessible in IIS Manager (inetmgr), and search for topics titled Web Site Setup, Common Administrative Tasks, and About Custom Error Messages. | | | Go to Microsoft Product Support Services and perform a title search for the words HTTP and 404. | | | HTTP Error 404 - File or directory not found. |
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http://www.absoluteastronomy.com/encyclopedia/p/pr/production_possibility_fr...
(121 words)
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| | Production Possibility Frontier |
| | Changing production to which point will involve a tradeoff? | | | The graph shows the production possibility frontier for a country. | | | The graph shows a country's production possibility frontier for airplanes and food. |
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http://www.econ100.com/canada/can4e/Chapter03/tips/quiz/3/ppf.htm
(215 words)
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| | "Production Possibility Frontier - PPF" Definition |
| | The PPF assumes that all inputs are used efficiently. | | | the ppf assumes that all inputs are used efficiently. | | | Glossary > P > "Production Possibility Frontier - PPF" Definition |
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http://www.level2.ru/dictionary/p/production_possibility_frontier_ppf.html
(100 words)
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| | Economic Growth [ Biz/ed Virtual Developing Country ] |
| | The production possibility curve shows the combination of two goods that a country can produce using all of its resources in the most efficient way. | | | It can be shown by an outward shift of the production possibility curve. | | | In the production possibility curve shown on the right-hand side the additional output consists of necessity items and these could benefit the low-income earners. |
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http://www.bized.ac.uk/virtual/dc/copper/theory/th5.htm
(349 words)
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| | Production Possibility Frontier -- PPF -- |
| | The PPF is a graphical device that shows all the combinations of goods and services that can be produced if all of society’s resources are used efficiently.. |
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http://au.frcc.cccoes.edu/~afarah/CFCH02/sld012.htm
(27 words)
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| | The Economics Place Chapter 36 -- Level 3: Calculations and Predictions |
| | Shark has a comparative advantage in the production of fish food. | | | Without trade, Sparta produces at point a and the slope of its production possibility frontier at that point is 3 cans of dog food per 1 can of soup. | | | Dexter produces at point b and the slope of its production possibility frontier at that point is 10 cans of dog food per 1 can of soup. |
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http://occawlonline.pearsoned.com/bookbind/pubbooks/parkin_awl/chapter36/multiple3/deluxe-content.html
(469 words)
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