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प्रश्न
Give the meaning and characteristics of production possibility frontier.
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उत्तर
Meaning: Production possibility frontier (PPF) means the geographical representation of possible combinations of two goods which can be produced with given resources and technology.
Feature: It slopes downwards because if more of one good can be produced only by taking resources away from the production of another good. Hence, there exists the inverse relationship between change in quantity in one commodity and change in another commodity. It shifts from left to right.
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संबंधित प्रश्न
Assuming that no resource is equally efficient in production of all goods, name the curve which shows production potential of the economy. Explain, giving reasons, its properties.
Giving reason comment on the shape of production possibilities curve based on the following schedule:
| Good X (units) | Good Y (units) |
| 0 | 8 |
| 1 | 6 |
| 2 | 4 |
| 3 | 2 |
| 4 | 0 |
Giving reason, comment on the shape of Production Possibilities Curve based on the following table :
| Good X (units) | Good Y (units) |
| 0 | 20 |
| 1 | 18 |
| 2 | 14 |
| 3 | 8 |
| 4 | 0 |
Define flow variable.
Define flow variable.
What is a production possibility frontier?
Choose the correct alternative from given options:
In the given figure, the movement on the production possibility curve from point A to point B shows _____________.
Choose the correct alternative from given options:
Shift from Point A on Production Possibility Curve X1Y1 to point B on X2Y2 in the given figure indicates:
Fill up the blank.
A Production Possibility Curve (PPC) would be convex to the origin if the Marginal Rate of Transformation (MRT) is ___________.
Answer the following question.
Why is a Production Possibility Curve concave to the origin? Explain.
Which of the following is the result of increase in price of factors of production?
______ shows the functional relationship between output and cost of production.
The total output generated by the first four units of variable input is 200 units, 350 units, 450 units and 500 units. The marginal product of the third unit of input is:
