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Wewaii [24]
3 years ago
12

Explain how the production possibilities curve can be used to illustrate each of the following: a. wastefulness b. what happens

when the economy grows c. when an economy is at productive efficiency d. unattainable production
Business
1 answer:
Lemur [1.5K]3 years ago
5 0

Answer:

A. wastefulness - production inside PPC ; B. Economy growth - PPC shift outwards/rightwards ; C. Economy at Productive Efficiency - production on PPC ; D. Unattainable Production- Outside PPC

Explanation:

PPC is graphical representation of production combinations that an economy can produce, given resources & technology.

PPC is based on assumption : That resources are best efficiently utilised. So, all product combinations ON PPC reflect 'Economy is at Productive Efficiency'

All production points INSIDE PPC reflect inefficient utilisation of resources i.e 'Wastage'

Points OUTSIDE PPC are 'Unattainable Product Combinations'- as they are beyond economy's best optimum production, given resources & technology.

'Economic growth' is increase in resources &/or technology which increases economy's production potential and PPC curve SHIFTS rightwards or outwards.  

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Answer:

The correct answer is letter "E": convergence hypothesis

Explanation:

In Economics, the convergence hypothesis describes how increasing industrialization in different countries could lead to transform the economy to an industrialized world where the <em>same societal patterns, ideologies, behaviors, and customs</em> will be spread which is likely to create a global culture.

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You’ve been given a customer complaint where a vital piece of Office 365 is not working as expected. The customer explains that
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What is one downside to environmental-protection laws?
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In practice, democracy means a system of government that allows for the following norms:

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<h3>What is democracy?</h3>

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Democracy represents free choice, the recognition of the human rights of the governed, and having elected representatives in government.

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Thus, democracy originally meant power held by the people.  In practice, it connotes the observance of political and social principles suitable for a free society.

Learn more about democracy at brainly.com/question/3710021

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