--%>
Assignment Help - homework help

Production at a point outside the production possibilities

For consumer goods (automobiles) and capital goods (forklifts), production possibilities table is depicted here:

 

1232_Production possibilities curve.png

What would production at a point outside the production possibilities curve denote? What should occur before the economy can achieve such a level of production?

E

Expert

Verified

Production outside the curve cannot take place (consumption outside the curve could take place through foreign trade). To generate beyond the current production possibilities curve this economy has to realize rise in its obtainable resources and/or technology.

   Related Questions in Finance Basics

  • Q : Why do assets equal the sum of total

    Why do overall assets equal the sum of total liabilities and equity?  Describe.            Assets = Liabilities + EquityAssets are the items of value business owns. Liabilities ar

    		•
  • Q : Define Referendum Referendum: This is

    Referendum: This is the power of the electors to support or reject statutes or parts of statutes, with particular exceptions and meeting particular deadlines and number of voter’s signatures.

    		•
  • Q : Reimbursement Warrant or Revenue

    Reimbursement Warrant (or Revenue Anticipation Warrant): A warrant which has been sold by the State Controller’s Office, as an outcome of a cash shortage in th

    		•
  • Q : Health finance 7.2 The audiology

    7.2 The audiology department at Randall Clinic offers many services to the clinic's patients. The three most common, along with cost and utilization data, are as follows: Service Variable Cost Annual Direct Annual # Visits per Service Fixed Costs Basic exam $5 $50,000 3,000 Advanced examination $7 $

    		•
  • Q : Productivity growth in quantitative

    Normal 0 false false

    		•
  • Q : What is FERA FERA stands for The

    FERA stands for The Federal Emergency Relief Administration. The program was renamed as a direct relief operation in Roosevelt Administration. It was a form of an unemployment insurance.

    		•
  • Q : Crowding out influence Normal 0 false

    Normal 0 false false

  • Q : What is Uniform Codes Manual Uniform

    Uniform Codes Manual (UCM): It is a document sustained by the Department of Finance that sets standards for codes and different other information employed in state fiscal reporting systems. Such codes recognize, for illustration, prog

    		•
  • Q : Demand for French euros or a supply of

    Normal 0 false false

    		•
  • Q : Basic determinant of transactions

    Normal 0 false false