A production possibilities curve, a shift to the right away from the origin illustrates economic growth. Group of answer choices opportunity cost scarcity of a good economic downturn economic growth.
Given the scarcity of resources, we have our limits, as the curve shows. If the economy grows and all else remains constant, more can be produced, shifting the production possibilities curve outwards or to the right.
A production possibility curve (PPC) is a model used to show the trade-offs in allocating resources between the production of two commodities. PPC can be used to explain the concepts of scarcity, opportunity cost, efficiency, inefficiency, economic growth, and contraction.
An outward or inward shift in the PPF can be caused by changes in the total amount of available production factors or technological advances. as the total amount of production factors such as labor and capital increases, the economy can produce more goods at any point along its borders.
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