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Production Possibilities Curve- Self Paced Lesson

Production Possibilities Curve- Self Paced Lesson

Assessment

Presentation

•

Social Studies

•

12th Grade

•

Medium

Created by

Jeremiah Johnson

Used 6+ times

FREE Resource

15 Slides • 24 Questions

1

Production Possibilities Curve-

Self Paced Lesson

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Multiple Choice

What does the term PPC stand for?

1

Products Premium Continuum

2

Production Possibilities Cycle

3

Possible Production Curve

4

Production Possibilities Curve

5

Multiple Choice

What is the production possibilities curve?

1

a graph that shows how much an economy can produce between 2 goods

2

how much money something is

3

the opportunity one has to give up in order to gain something else

4

land, labor, capital, entrepreneurs

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Multiple Choice

Efficiency is producing the maximum possible output from available resources

1

True

2

False

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Multiple Choice

The production possibilities curve is an illustration of what?

1

Opportunity costs and trade-offs

2

Only opportunity costs

3

Only trade-offs

4

none of the above

10

Multiple Choice

What is opportunity cost?

1

a graph that shows how much an economy can produce between 2 goods

2

how much money something is

3

the opportunity one has to give up in order to gain something else

4

land, labor, capital, entrepreneurs

11

Multiple Choice

Question image

Movement down the PPF curve indicates that the opportunity cost of more capital goods is producing more consumer goods

1

True

2

False

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Multiple Choice

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What does point Y represent on the PPC?

1

Efficiency

2

Unattainable / impossible

3

Inefficency

4

Nothing

16

Multiple Choice

What do points inside the PPF indicate?

1

The combination of goods that employ goods efficiently

2

The combination of goods that employ resources fully

3

The combination of goods that do not employ resources fully

17

Multiple Choice

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Which point represents "resources are not being used efficiently, or resources are being wasted or idle"?

1

Point A

2

Point Y

3

Point X

4

All of the above

18

Multiple Choice

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What does point B represent?

1

Production at greater than the country's minimum potential

2

Production is less than the country's minimum potential

3

Productive inefficiency

4

Productive efficiency

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Multiple Choice

If a point lies on the curve this means the company is being efficient. If a point lies inside the curve, this tells the company what?

1

They are being over efficient

2

They are not efficient

3

It is impossible

4

None of the above

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Multiple Choice

If a natural disaster strikes, the production possibilities curve can shift

1

No shift

2

To the left

3

To the right

4

Outward on one axis only

26

Multiple Choice

Question image

If a point lies on the curve this means the company/country/individual is being efficient. If a point lies inside the curve, what does that tell?

1

They are being over efficient

2

There is an idle, or unproductive, or use of resources

3

It is not impossible with the given resources

4

They are still efficient, just at another point

27

Multiple Choice

If many workers decide to retire at an early age, the PPC would shift inward.

1

True

2

False

28

Open Ended

Explain why the PPC would shift inward of many workers decide to retire at an earlier age?

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Multiple Choice

Changes in technology do not usually affect production

1

True

2

False

31

Multiple Choice

If there is improved technique of Production in both the goods , how will the PPC be affected?

1

Leftward shift of PPC

2

Rightward shift of PPC

3

Rotation of PPC

4

None of the above

32

Multiple Choice

What can cause a production possibilities curve to move to the right?

1

thousands of people move out of the country

2

an epidemic kills thousands of young men and women

3

a new invention lowers the cost of production

4

the population is growing increasingly old

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Multiple Choice

Economic growth affects the PPF by...

1

Shifting inward

2

Shifting outward

3

causing no change at all

4

turning it into a straight line

35

Multiple Choice

An increase in the labor force would cause the PPF to 

1

Shift inward

2

Shift outward

3

Do nothing

4

Turn into a straight line

36

Multiple Choice

Suppose that a new machine that speeds up automotive production is introduced into the auto industry. This would cause the PPF to

1

Shift outward

2

Shift inward

3

Do nothing

4

Not enough information is provided

37

Multiple Choice

Question image

In the following graph, PPC of country XYZ is currently at the blue line. Suggest one way in which this production combination can increased

1

Technology increase in both production

2

Decrease in population

3

There is huge drop in country XYZ's economy growth

4

Natural disaster in country XYZ

38

Open Ended

Give at least 3 real world examples of how the PPC could shift outward? For each example, state why it shifts outward.

39

Open Ended

Give at least 3 real world examples of how the PPC could shift inward? For each example, state why it shifts inward.

Production Possibilities Curve-

Self Paced Lesson

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