Question

A shift in a ppc/ppf to the______________ illustrates growth which may be generated by better utilizing existing resources (improved technology) or by acquiring more resources over time.

Answer 1

A shift to the right (or outward) in a ppc/ppf represents expansion, which may be brought about by better utilizing current resources (improved technology) or by gradually acquiring more resources.

The Production Possibility Frontier (PPF): What Is It?

The production possibility frontier (PPF) is a graphed curve that shows the possible output of two items whose production is reliant on a single finite resource. The PPF is often referred to as the production possibility curve.

PPF is important in economics as well. For instance, it can show that a country's economy has achieved the maximum level of effectiveness.

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