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ECON PPC CURVE

TermDefinition
How does productivity increase? 1. specialization or division of labor 2. increase in human capital
What are the four assumptions when constructing a PPC 1. look at 2 goods: consumer and capital 2. technology is fixed 3. fixed resources 4. fully employment/fully efficient
To show economic growth on a PPC the curve will... show opportunity cost
Economic growth occurs when a. new technology b. increase in quantity of resources c. increase in quality of resources
dot inside curve inefficient
dot outside curve unattainable
x-axis consumer good
y-axis capital good
Created by: lilli.spears1
 

 



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