
PPC (No Shifts)
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
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18 questions
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1.
FLASHCARD QUESTION
Front
The production possibility curve shows
Back
the alternative combinations of two goods that an economy is capable of producing.
2.
FLASHCARD QUESTION
Front
Because not all resources are the same, as we try to produce more and more of the same product, what happens?
Back
our gains decrease and opportunity cost increases
3.
FLASHCARD QUESTION
Front
The point that represents maximum production of Storage Sheds
Back
F
4.
FLASHCARD QUESTION
Front
Point that is currently not possible due to limit in resources, technology and abilities
Back
H
5.
FLASHCARD QUESTION
Front
People like both but prefer Crab Puffs over Storage Sheds. What is the allocatively efficient point?
Back
B
6.
FLASHCARD QUESTION
Front
People prefer Crab Puffs over Storage Sheds, what is the most Allocatively INefficient point?
Back
F
7.
FLASHCARD QUESTION
Front
The people of this nation do not like Storage Sheds at all, the Allocatively Efficient point would be
Back
A
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