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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.
Production in an economy is below its potential due to unemployment. Government starts employment generation schemes. Explain its effect using production possibilities curve.
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 |
A large number of technical training institutions have been started by the government. State its economic value in the context of production possibilities frontier.
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 Production Possibilities Curve. Explain why it is downward sloping from left to right.
Define flow variable.
What is a production possibility frontier?
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:
Answer the following question.
Why is a Production Possibility Curve concave to the origin? Explain.
Production possibility curve slopes downwards from ______ to ______.
Which of the following is the result of increase in price of factors of production?
Which of the following statement is true:
______ shows the functional relationship between output and cost of production.
Which of the following statement is false?
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:
