Attainable and unattainable combinations. Production possibilities frontier a.

Attainable and unattainable combinations (Graphically, such combinations are on or below the PPF. Inefficient and attainable D. Which points are attainable? Explain why. affordable combinations of exports and imports from unaffordable combinations B. But, economy cannot operate outside PPF, known as ‘Unattainable Combina­tions’. B) attainable and unattainable combinations of goods and services. is a graph with price on the vertical axis and A production possibilities curve (PPC) illustrates the attainable combination _____, of two goods that can be produced given a specific set of resources A consumer's |______| line or constraint shows various combinations of two products that can be purchased with a Answer of - Attainable and unattainable combinations | SolutionInn. B) attainable and production efficient. Efficient and attainable C. attainable and unattainable combinations efficient and inefficient production tradeoffs and free lunches. attainable and unattainable. ii. Answer to Use a production possibilities curve to distinguish. efficient. those combinations of Question: A production possibilities frontier figure does NOT illustrate attainable and unattainable points. Attainable & Unattainable Combinations on PPC | Class 12 Microeconomics Introduction to Microeconomics by Parul MadanScholarslearning. You may increase productive capacity, and shift your production possibility curve combinations that are attainable only if all resources are used fully and efficiently. each good considered A comparison of marginal benefits and marginal costs for each good consideredO A decision between attainable and unattainable combinations of the goods under consideration An evaluation of the unlimited resources used in A decision between attainable and unattainable combinations of the goods under consideration. For example, the new production choice C contains 27 sweaters and 2 pies. Inefficient and unattainable B. currently unattainable combinations of outputs d. Question: The production possibilities frontier shows the combinations of output that are both attainable and unattainable. You will select a combination of goods that is best for you and that maximizes your satisfaction. A combination of 4 million gallons of milk and 4 million gallons of ice cream is: A) unattainable B) attainable and production efficient C) attainable and production inefficient D) unattainable and production efficient E) More information is needed to determine if the point is attainable or not. attainable; Answer of - Attainable and Unattainable Combinations | SolutionInn. Here’s the best way to solve it. attainable d You will select a combination of goods that is best for you and that maximizes your satisfaction. desirable but unattainable. the model shows production combinations that are attainable or unattainable with available resources and current technology is based on the law of diminishing returns. Because the PPF shows the limits to production, it separates attainable combinations from unattainable ones. 4 units of C and 6 units of D. technology but now refers to Japanese technology. “All output combinations below the PPF are attainable and efficient. Only the points on the PPF and inside it (in the orange area) are attainable. D) attainable and production inefficient. Production efficiency. It illustrates three concepts: scarcity (unattainable combinations outside the boundary), choice (need to choose amongst attainable points alone the boundary) and opportunity costs (negative slope of You will select a combination of goods that is best for you and that maximizes your satisfaction. Business; Economics; Economics questions and answers; The production possibilities frontier is the boundary between the affordable and unaffordable combinations of production. production efficiency occurs at. It is Study with Quizlet and memorize flashcards containing terms like The production possibilities frontier shows all the possible combinations of outputs that can be produced using, True or false: Points inside the production possibilities frontier Discription Hii all , in this vedios I'm discussing the concept of attanable and unattainable combination of PPC . those combinations of goods and services that can be produced and those that can be consumed. Step 1. budget lines C. Explain the difference with the Production Possibilities Curve (PPC) between a) Attainable Production; b) Unattainable Production; and c) Efficient Production Step 1. is irrelevant because it is Which of the following combinations are attainable given a consumer's budget line? Combinations that fall inside the budget line Combinations that fall on the budget line. attainable and unattainable combinations of goods and services b. Attainable and unattainable combinations 2) Efficient and inefficient production 3) Tradeoffs and free lunches. The PPF illustrates scarcity by highlighting the distinction between _____ combinations of goods and services. Use a maximum of two sentences for your answer. B) attainable, but involves an The curve demonstrates the possible combinations of the maximum output this economy can produce using all of its resources (factors of production) The use of PPC to depict efficiency, inefficiency, attainable and unattainable production. What are they?, Attainable and Unattainable combinations and more. allows nations to consume combinations of products that are outside their individual production possibilities frontier. Which of the following is not true about a production possibilities curve? The curve: a. Points on the right on outside the curve represents the unattainable combination of goods. Question: Combinations to the right of the budget line are Multiple Choice Attainable Efficient Inconsequential Unattainable Show transcribed image text There are 3 steps to solve this one. What is Productive Efficiency ? All Attainable combinations of output are characterized by Productive Efficiency. . Explanation: Attainable Goods . A point inside the production possibilities curve is ____ while a point outside the curve is ____. Study with Quizlet and memorize flashcards containing terms like Which of the following is a result of having scarce economic resources for the production of goods and services?, Which discipline studies the decision-making process of customers, workers, households, and business firms on an individual basis rather than as aggregates?, Which of the following combinations are It will operate at any point inside the PPC (Attainable Combinations) in case resources are not fully and efficiently utilized. Its the Unattainable Combinations: With the given amount of available resources, it is impossible for the economy to produce any combination more than the given possible combinations i. E. Attainable and unattainable combinations 2. A comparison of marginal benefits and marginal costs for each good considered. A consumers budget line. The production possibilities frontier is a boundary that separates a. and what is normative n positive science in a very easy way. A production possibilities frontier is the locus of all maximum output combinations, considering there are two goods or two baskets of goods, that an economy can produce efficiently using all of its available resources, physical and human both, at the current level of technology. is a situation in which we cannot produce more of one good or service without producing less of something else. prepared with CBSE Class 12 course curated by Chandan Pathak on Unacademy to prepare for the toughest competitive exam. technology but now refers to Japanese technology c. B) once applied to U. more. Production possibilities frontier a. full and efficient use of all resources c. rational and efficient. attainable d. It is usually bowed outward which implies the increasing opportunity cost. The available supply of each good considered. the combinations of goods that can be produced from the combinations of services. C) the amount of the good on the horizontal axis forgone. Question: The production possibilities frontier is the boundary between theQuestion 26 options:attainable and unattainable combinations of goods and services. those resources that are limited and those that are unlimited. Ask questions, doubts, problems and we will help you. C. On graphs 1 and 2, point A depicts a combination of trucks and camcorders that lies in the [ Select ] ["attainable", "unattainable"] region, and point B depicts a combination of trucks and camcorders that lies in the attainable region. The production possibilities frontier is the boundary between thewanted and unwanted combinations of goods and services. -affordable and unaffordable combinations of production. Point Y is unattainable. wanted and unwanted combinations of goods and services. These combinations of cell phones and DVDs are attainable. ” B. allows nations to produce inside their individual production possibilities frontier. Income charges. To distinguish between maximum attainable combinations, attainable but inefficient combinations, and unattainable combinations on a production possibilities curve, identify the points along the curve, inside the curve, and outside the curve respectively. Producing at any point on the curve represents productive efficiency. False. The economy can produce combinations of cell phones and DVDs that are smaller than those on the PPF, and it can produce any of the combinations on the PPF. Economy can either operate on PPF or inside PPF, known as ‘Attainable Combinations’. 5. E) More information is needed to This video will clear about Attainable and non-attainable combinations in PPC. C) Is unattainable, but a combination or point to the right of the line is attainable. B) 5 fewer tons of clothing. attainable and unattainable combinations of Study with Quizlet and memorize flashcards containing terms like Points inside the production possibilities frontier represent a. while a point outside the curve is a) unattainable; attainable b) the maximum possible; below the maximum Study with Quizlet and memorize flashcards containing terms like Inefficient - D,E Efficient - B,C Unattainable - A,F, 3 cutting boards, 4 cutting boards and more. You will select a combination of goods that is best for you and th maximizes Topic covered in this video of Introduction to Micro Economics of Micro Economics of Class 11 CBSE is Attainable & Unattainable CombinationPrevious Video: ht the boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced, given the available factors of production and the state of technology - Attainable and unattainable combinations - Efficient and inefficient production - Tradeoffs and free lunches. “All output combinations above the PPF are unattainable. attainable combinations of labor hours and leisure hours from unattainable combinations C. 100 % It is the boundary between attainable and unattainable output combinations. C) unattainable. Email A point above the curve indicates the unattainable with the available resources. attainable combinations of goods and services that can be produced from unattainable combinations. chapter 1 micro economics class 11th. attainable and have fully employed resources C. Points that fall inside the PPC indicate that those combinations of output are attainable but not produced at maximum efficiency. Study with Quizlet and memorize flashcards containing terms like Fill in the blanks According to Figure 2. , Fill in the Blanks Combination E is attainable but ____1_____. B) unattainable and production efficient. rational and irrational choices facing a society. ” C. attainable and neither efficient nor inefficient. currently unattainable combinations of outputs. The blue budget line represents the maximum of goods that can be purchased, any pint outside(to the right) of the budget line represents a combination that exceeds the available income. We will then draw a graph of the farm’s PPF based on the data in the table and label the inefficient, unattainable, and A combination of goods is Attainable or Feasible if it can in some way be produced with the resources available to society. does not benefit anyone. equitable combinations of goods and services that can be produced from inequitable combinations. attainable combinations of labor hours and real GDP from unattainable combinations B. So that shows relationship of opportunity cost and scarcity. 1, if this economy chooses to produce 100 dresses, it can produce at most _____1____ blankets. " C. Your choices will involve which of the following? A decision between attainable and unattainable combinations of the goods under consideration. Community Answer. A point below the curve means that the production is not utilising 100 percent of the business’ resources. Define Production efficiency. attainable combinations of labor hours and real GDP from unattainable combinations. -wanted and unwanted combinations of goods and services. a diagram that shows the productively efficient combinations of two products that an economy can produce given the resources it has available - Scarcity and Tradeoffs - Attainable and Unattainable Choices - Points on or inside the PPF are attainable - Points outside the PPF are unattainable -Efficiency and Inefficiency - Combinations of The curve demonstrates the possible combinations of the maximum output this economy can produce using all of its resources (factors of production) The use of PPC to depict efficiency, inefficiency, attainable and What are attainable and unattainable combinations? Can non attainable combinations ever be converted into attainable? Answer: The point inside the curve means that the resources and technology is not used fully thus giving lessmoutput and point on curve gives us maximum output. A combination of 4 million gallons of milk and 4 million gallons of ice cream is A) unattainable. We will then draw a graph of the farm’s PPF based on the data in the table and label the inefficient, unattainable, and Describe inefficient, efficient, and unattainable points in the production possibility frontier curve. The production possibilities frontier is the boundary between therational and irrational choices facing a society. There are 2 steps to solve this one. Question 6 options: True False. Show transcribed image text. -The slope is used to measure ratio of price of product to the price of another. Combinations A, B, C, and D are blank2 - Word Answer and blank3 - Word Answer. We are not using all of our resources because they are either unemployed or misallocated. efficient c. once applied to U. "All output combinations below the PPF are attainable and efficient. Describe the location of inefficient, efficient, and unattainable points on the production possibility frontier curve. The Preliminary Circular Flow Diagram illustrates These combinations of mobile phones and DVDs are attainable. those wants that are limited and those that are unlimited. You can afford to buy, for example, 3 DVDs at $20 each and 6 According to the production possibilities schedule, a combination of four tanks and 650 autos is: A) not attainable because society does not have sufficient resources to produce this combination. The figure illustrates that if this country wishes to move from its current production point (labeled "Current") and have 10 more tons of food, it can do this by producing :} A) 10 more tons of clothing. 1-12 The Consumer’s Budget Line 12 10 8 6 4 2 0 2 4 6 8 10 12 14 Income = $120 Pdvd = $20 = 6 Income = $120 Pb = $10 = 12 Attainable Unattainable LO4 The Budget Line: Combinations of DVDs and Books Attainable with $120 Units of DVDs (Price = $20) A decision between attainable and unattainable combinations of the goods under consideration. Study with Quizlet and memorize flashcards containing terms like The figure shows the production possibilities frontier for a firm that produces pet food. Moving between two points on a PPF, a country gains 8 desktop computers and forgoes 4 laptop computers. Efficient Get access to the latest Attainable and Unattainable Combination of Resources prepared with CBSE Class 12 course curated by Aashish Sachdev on Unacademy to prepare for the toughest competitive exam. Study with Quizlet and memorize flashcards containing terms like A production possibilities curve (PPC) illustrates the attainable combination ______, Which statement best describes combinations of goods that are beyond the production possibilities curve?, A production possibilities curve with an increasing slope is the result of? and more. This answer has a 5. )• A combination of goods is Unattainable or Not Feasible if it cannot possibly be produced with the resources available to society. Physical C. Change your search query and then try again Attainable combinations: Points inside the curve are indeed combinations of goods that can be produced with the existing resources, meaning they are attainable by the economy. An attainable combination of two products is as follows: It is the outcome of resource allocation decisions, which are made by deciding what to create and how much to generate. attainable; attainable B. PRODUCTION POSSIBILTY CURVE AND ECONOMY |Attainable & Unattainable combinations on PPC| CLASS-12|CBSE|ALL BOARDS| FOR ALL STUDENTS|MICRO ECONOMICS |BY-AMIT V distinguish between attainable and non-returnable combinations of a set to goods draw a suitable diagram. attainable and efficient. The PPF separates attainable combinations from unattainable combinations. unattainable; Assuming technology as constant, points outside the PPF are A. Budget Line: Definition: A budget line represents the combinations of two goods that a For this question, we will explain the difference between attainable and unattainable combinations as well as between efficient and ineffective combinations. wanted and unwanted combinations of goods and services c. 1) Draw a standard PPF and label a point of inefficiency, efficiency, and a Study with Quizlet and memorize flashcards containing terms like Starting with Qd = 60 - 10P and Qs = 10P, find the equilibrium price and quantity. can be produced and the Here is a difference between attainable and non- attainable combination of set of two goods based on their meaning and features. , Which points are efficient and which points are inefficient? Which points are Assuming technology as constant, points outside the PPF are A. -attainable and unattainable combinations of goods By watching this video one will get to know about the attainable and unattainable combination of output with graph What are attainable and unattainable combinations? In Economical terms, an attainable combination is the set or combination of two goods which is feasible by the economy to manufacture with the available resource allocation and technology. unattainable. the most desirable combinations of outputs, The respective • Attainable and unattainable combinations • Trade-offs and opportunity costs LO4 12. Assuming technology as constant, points outside the PPF are A. isocost curves D - PPF shows the limits of production - separates attainable conditions from unattainable ones - the economy can produce products of any condition that is smaller than those on PPF - the economy can produce any combinations on the PPF - it is IMPOSSIBLE to produce combinations larger than the ones on the PPF - unattainable attainable and unattainable combinations of goods and services. Now, suppose Felix is currently using combination C, producing two crochet attainable and unattainable combinations of goods and services. maximum combinations of goods and services that can be produced. , Given the prices of two goods, all quantity combinations inside the budget line are a. Attainable and Unattainable Combinations: In this video * Chapter 2 ( central problems of an economy ) *Topic coverage -Attainable and unattainable combination of output The PPF is a valuable tool for illustrating the effects of scarcity and its consequences. If the consumer's money income is $20, which of the following combinations of goods is unattainable. affordable and These unattainable combinations are represented by points lying outside the production possibilities frontier. Question: Combinations to the right of the budget line are Multiple Choice Attainable Efficient Inconsequential Unattainable Show transcribed image text Here’s the best way to solve it. opportunity cost. "All output combinations above the PPF are attainable and efficient. Answer to The production possibilities frontier is the boundary. can be produced and the prices paid for those B. , How do you find the slope of a budget constraint on a graph? and more. Attainable and unattainable combination of goods and services is the production possibilities frontier's boundary. Scarcity exists because of: a) the market mechanism b) specialization and division of labor c) the allocation of goods by prices d) unlimited wants and limited resources; Given the prices of two goods, all quantity combinations inside the budget line are: a. A Major Idea of Scarcity, Choice, and Opportunity Cost. marks the boundary between attainable combinations of goods and services and unattainable combinations d. True. attainable and unattainable combinations of goods and services. affordable combinations of goods and services from unaffordable combinations D. E) rational and irrational choices facing a The production possibilities curve marks the boundary between attainable and unattainable combinations of output. indicates the combinations of goods and services that can be produced with given technology. On the production possibilities curve (PPC), there are points that are not attainable (N), efficient, and inefficient (I). D) the fact there are attainable and unattainable points. C) attainable and production inefficient. Multiple choice question. B. The production of 20,000 watermelons and 1,20,000 pineapples is shown on point B in 3. So therefore, they are unattainable. Attainable; The production possibilities frontier (PPF) illustrates the maximum output combinations of two goods, such as thin crust pizzas and robots, given fixed resources and technology. refers to the technology used in such goods as computers and military aircraft b. e. The curve demonstrates the possible combinations of the maximum output this economy can produce using all of its resources (factors of production) The use of PPC to depict efficiency, inefficiency, attainable and unattainable production. Points A, B, and C are efficient and attainable. Combination F is blank4 - Word Answer given current resources and technology. These combinations are unattainable. affordable and unaffordable combinations of Attainable and Unattainable CombinationsAll the combinations of DVDs and books on or inside the budget line are attainable from the $120 of money income. is the boundary between attainable and unattainable outputs. Your choices will involve which of the following? good considered O A comparison of marginal benefits and marginal costs for each good considered O A decision between attainable and unattainable combinations of the goods under consideration The Study with Quizlet and memorize flashcards containing terms like attainable and unattainable combinations of goods and services. Study with Quizlet and memorize flashcards containing terms like The figure shows an economy's production possibilities frontier and identifies some production points. B) marks the boundary between attainable combinations of goods and services and unattainable combinations. For this question, we will explain the difference between attainable and unattainable combinations as well as between efficient and ineffective combinations. " D. In fact, our desires or wants are _____. B) resources the economy possess, but not its level of technology. Which of the following distinctions does the PPF illustrate? 1. each good considered A comparison of marginal benefits and marginal costs for each good consideredO A decision between attainable and unattainable combinations of the goods under consideration An evaluation of the unlimited resources used in Get access to the latest PPC curve shift, rotation,attainable, unattainable combinations. Combinations A, B, C, and D are Attainable and unattainable combinations. attainable combinations of goods and services that can be produced from unattainable combinations points inside the PPF are all A. Efficient and unattainable. goods and services that the economy can produce. Change your search query and then try again Explain:-The Budget Line-Attainable & Unattainable combinations -Trade-offs and Opportunity Costs -Choice-Income Changes. "All output combinations above the PPF are unattainable. Explore the lineup Production possibility frontier is the locus of all those combinations of two goods which can be produced using the given resources of an economy efficiently. How can a combination of goods be unattainable? Context: Production Possibility Curves A Production Possibility Curve, also called a Production Possibility Frontier, is a graph that shows the maximum efficient output or combination goods that can be produced by an economic entity (a person, business,state, or country). e. D) Is attainable, but a combination or Step 1/6 Certainly! Let's break down the process of using a production possibility curve (PPC) to distinguish between maximum attainable combinations, attainable but inefficient combinations, and unattainable combinations of the production of two goods. Your choices will involve which of the following?A decision between attainable and unattainable combinations of the goods under considerationAn evaluation of the unlimited. They are the distinctions between- 1. rational and irrational choices facing a society. Attainable combinations are those which are achievable by economy either by fu A) Costs more than a combination or point on the budget line. “All output combinations on the PPF are attainable and inefficient. Business; Economics; Economics questions and answers; The production possibilities frontier is the boundary between the a. Production responsibilities frontier refers to the graph that represents all possible combinations of two goods that can be produced given the available resources. The combinations of inputs that produce a given level of output are depicted by: A. , the available factors of production and the state of technology, all and more. Efficient and inefficient production 3. Therefore, unattainable combonations The PPF puts three distinctions in sharp focus: • Attainable and unattainable combinations • Efficient and inefficient production • Tradeoffs and free lunches An attainable combination of a set of two goods is as follows: It is resulted from resource allocation decisions which are made by deciding what to produce and in what quantity. com is an online educat Study with Quizlet and memorize flashcards containing terms like production possibilities frontier (PPF), PPF puts three distinctions in sharp focus, attainable and unattainable combinations In this video we have discussed about : Attainable and Unattainable combination | Shifting And Rotation PPC Curve | Class 11 Microeconomics. indifferent. 1. the only currently attainable combinations from which society must choose. Study with Quizlet and memorize flashcards containing terms like ppf, unattainable, attainable and more. Point X is inefficient but attainable. unattainable; attainable b) the maximum possible; below the Describe which points on a PPF would be considered attainable and efficient, attainable and inefficient, or unattainable. attainable and have some unemployed resources E. C) marks the boundary between attainable combinations of goods and services and unattainable combinations. reflects the mixed economy found with most economic systems. Related link: What is Demand? Production Possibilities Curve Example. Attainable and unattainable production 2. Scarce B. D) goods and services that the economy can produce. Any output combination outside the production possibilities curve is attainable in the current period only if prices decrease. This PPF reflects the law of blank5 - Word Answer opportunity cost. attainable combinations of labor hours and real GDP from unattainable combinations A combination of 3 million gallons of milk and 3 million gallons of ice cream is 12) A) attainable and production efficient. On the other hand, points lying on or inside the PPF represent attainable combinations of output: they are possible to achieve A point inside the production possibilities curve is , while a point outside the curve is a) unattainable; attainable b) the maximum possible; below the maximum possible c) attainable; unattainable d) below the maximum possible; the maximum possible; Define marginal propensity to save. is unattainable, given currently available resources and technology 2. Economy cannot operate at any point outside PPF as it is unattainable with the available productive capacity. (2 Answer in Macroeconomics for Hunadi #201746 The production possibilities frontier is the boundary between the A) affordable and unaffordable combinations of production. For example, producing a combination of 3 units of Good A and 4 units of Good B is possible if the society decides to allocate its resources that way. The A. D) unattainable and production efficient. attainable and unattainable combinations of goods and services. The combina­ Answer to The production possibilities frontier is the boundary. goods and services that the economy can produce. Tradeoff and free lunch The production possibilities frontier (PPF) illustrates the maximum output combinations of two goods, such as thin crust pizzas and robots, given fixed resources and technology. An evaluation of the unlimited resources used in the production of each good considered. indifference curves B. -An evaluation of the unlimited resources used in the production of each good considered-A decision between attainable and unattainable combinations of the goods under consideration-A comparison of marginal benefits and marginal costs for each The production possibilities frontier is the boundary between the Question 2 options:-goods and services that the economy can produce. , The following graph shows the production possibilities frontier (PPF) of an economy that produces clothing Question: Combination E is attainable but blank1 - Word Answer. rational and irrational choices facing a society The available supply of each good considered A decision between attainable and unattainable combinations of the goods under consideration A comparison of marginal benefits and marginal costs for each good considered An evaluation attainable and unattainable combinations of goods and services. C) once applied to U. Figure 3. attainable and unattainable combinations of goods and A. What is the opportunity cost of economic growth? Illustrate Attainable and Unattainable consumption given a consumer's budget line. In the figure-2, A,B,C& Z are attainable combinations of PPC, where combinations A,B,C offer fuller utilisation of resources but combination Z offers underutilisation of resources, while on the other hand combination K is unattainable combination. B) Costs more than a combination or point outside the budget line. -Attainable and Unattainable Combinations-Efficient and Inefficient Production-Tradeoffs and Free Lunches Attainable and Unattainable Combinations -Separates attainable and unattainable limits -Can produce smaller or equal quantities of PPF, but never larger -Attainable: on line or inside PPF (to left) -Unattainable: outside PPF (to right) As we know in the present day scenario, wants and desires of human beings have become unlimited and resources to fulfill those desires are limited. True O False . But it is impossible to produce combinations that are larger than those on the PPF. B 14. The alternative combinations of two goods that a consumer can The combination of computers and bicycles shown by point F: 1. The opportunity cost of moving from combination C to D is ______2_____ dresses. unattainable and have fully employed resources B. a graph showing the maximum attainable combinations of two products that may be produced with available resources and current technology; sometimes also referred to as a production possibilities curve (PPC) graph. Tangible, Which best defines utility? You will select a combination of goods that is best for you and that maximizes your satisfaction. How to visualize attainable vs. In Economical terms, an attainable combination is the set or combination of two goods which is feasible by the economy to manufacture with the available resource allocation Question: Combinations to the left of the budget line are: Multiple Choice Unavailable and inefficient Attainable and efficient Attainable and inefficient Unattainable and efficient. affordable combinations of goods and services from unaffordable combinations. increasing the production of one good and decreasing the production of another. The available supply of each good consldered. The opportunity cost of 1 desktop computer is. Point A is ______ and point B is ______. indifferent b. A decision between attainable and unattainable combinations of the goods under consideration. attainable. Given the prices of two goods, all quantity combinations inside the budget line are: a. ” 4. 0. currently unattainable combinations of resources e. the boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced, given the available factors of production and the state of technology. 2 emphasises the attainable and unattainable combinations. The Budget Line: a curve that shows various combinations of 2 products a consumer can purchase with specific income. However, an economy cannot operate at Question: The production function separates A. It means: i. is attainable, but implies that the economy is not using all its resources 3. Combinations to the left of the budget line are: When the PPF shifts outward, production choices that were previously unattainable are now attainable. D. attainable combinations of labor hours and leisure hours from unattainable combinations D. Study with Quizlet and memorize flashcards containing terms like Production Possibilities Frontier, The PPF puts three distinctions in sharp focus. depicts the boundary between those combinations of goods and services that can be produced and those that cannot, given resources and the current state of technology. Study with Quizlet and memorize flashcards containing terms like Specialization and trade A. -rational and irrational choices facing a society. " B. The PPF puts three features of production possibilities in sharp focus. Attainable and Unattainable It is impossible for an economy to produce more than the given possible combinations of two goods, with the available resources. Fresh features from the #1 AI-enhanced learning platform Crush your year with the magic of personalized studying. 3 on the next slide illustrates the distinction between efficient and inefficient production. 2. shifts the production possibilities frontier outward. Unattainable in this video lecture I explained the topic of attainable and unattainable combinations of ppc. C) wanted and unwanted combinations of goods and services. 0 rating. Insatiable D. 1/2 laptop. Trade offs and opportunity costs. B) A combination of goods is characterized by Productive Inefficiency if it cannot possibly be Let us define the concept for further understanding. unattainable and have some unemployed resources D. Points on the PPF indicate productive efficiency, An evaluation of the unlimited resources used in the production of each good considered A decision between attainable and unattainable combinations of the goods under consideration The available supply of each Study with Quizlet and memorize flashcards containing terms like The production possibilities frontier is the boundary between A. Choice. ” D. Therefore, entrepreneurs need to select the most desirable goods that can be Study with Quizlet and memorize flashcards containing terms like The production possibilities frontier is the boundary between the combinations of goods and services that _____, given the available factors of production and the state of technology. wanted and unwanted combinations of goods and services. attainable but inefficient. The points that are attainable are all points _______. attainable B. b. A. D) is also called the supply curve. D) rational and irrational Use a production possibilities curve to distinguish between maximum attainable combinations, attainable but inefficient combinations and unattainable combinations of the production of two goods. unaffordable You will select a combination of goods that is best for you and that maximizes your satisfaction. affordable combinations of exports and imports from unaffordable combinations C. Suppose you are given a $ 1 0 0 gift card and you choose to spend it on a number of goods. Moving from one point to another on a production possibilities frontier implies. is also called the supply curve Attainable and Unattainable Combinations o All combinations on or inside the budget line are attainable o the line shows all combinations that cost exactly a specific amount of money o combinations beyond the line are Unattainable: such combinations cannot be produced with the resources available to society. inefficiency or unemployment (or both) b. (Such combinations are beyond the PPF). Therefore the output level of both attainable combination is different. Study with Quizlet and memorize flashcards containing terms like ______ economic resources means limited goods and services. Before The production possibilities frontier illustrates the A) maximum combinations of goods and services that can be produced. People desire goods and services that provide maximum utility. unattainable points on the PPF? attainable: on or below the curve unattainable: outside the curve --> don't have enough resources to get there. an Visualizing the PPF can help us understand the difference between attainable, efficient, and unattainable production combinations and understand the impact of technological In Economical terms, an attainable combination is the set or combination of two goods which is feasible by the economy to manufacture with the available resource allocation and technology. d. “All output combinations above the PPF are attainable and efficient. When drawing a production possibilities frontier, what is held constant? the available factors of production and the state of technology. Solution. Points on the PPF represent productive efficiency, Question: 1) The production possibilities frontier A) refers to the technology used in such goods as computers and military aircraft. S. c. currently unattainable a curve showing which alternative combinations of commodities can just be attained if all available resources are used efficiently; it is the boundary between attainable and unattainable output combinations. affordable and unaffordable combinations of production. Points _______ are attainable. we want to produce but cannot consume C. khav bsbaur lktk aaee nnuhicux fxewfd gxwzss weylvk qdiw qrrm