efficiency along the ppc implies

In making accounts efficient, I tend to worry that I’m leaving conversions on the table. ppt/slides/_rels/slide17.xml.rels�Ͻ 2) Efficiency along the PPC implies, a) Goods are produced quickly. �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! 3. 5���� � ! Non-maximising behaviour is found under conditions of monopoly All the above. h�t� � _rels/.rels �(� ���J1���!�}7�*"�loD��� c2��H�Ҿ���aa-����?�$Yo�n ^���A���X�+xn� 2�78O ppt/slides/_rels/slide11.xml.rels�Ͻ T/F Moving from a point on the production possibilites curve to another point on the same curve implies a gain in production efficiency . K�=� 7 ! K�=� 7 ppt/slides/_rels/slide5.xml.rels�Ͻ from A to E ), we observe that in order to produce more units of capital goods, the economy must sacrifice some amount of consumer goods.In other words, it reflects the opportunity … �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! Productive efficiency means that, given the available inputs and technology, it’s impossible to produce more of one good without decreasing the quantity of another good that’s produced. c\#�� 7 ppt/slides/_rels/slide1.xml.rels�Ͻj�0�=�w�W�;�,e)C��>�!�mQ[:��o�1t�x_�?�]��,�(��AC+lt>�~n_�'\08�c 1\�ۡ�Ҍ������0���J��hA�1Q��!�K-��_I}4�Q�g���Ӑ{ׂ�m�^��0xK�Ѯ��O���;��-����G*�|��ZY#@�N��5 �� PK ! Nov 29,2020 - A movement along a PPC impliesa) Redistribution of technologyb)Redistribution of wealthc) Reallocation of incomed) Reallocation of resourcesCorrect answer is option 'D'. the shape of the PPC is concave i.e moving from left to right i.e as we move downwards along the PPC the MRT rises. ��px]GϔM���?�U�����;�Ҟڴ�6`� �� PK ! As we move down along the PPC, to produce each additional unit of one good, more and more units of other good need to be sacrificed. PK ! Any point on the PPC c. Any point on the PPC where MRS=MRPT d. A situation where each consumer achieves maximum utility simultaneously 4) Distinguish between the allocative and the distributive functions of government. The bowed-out curve of Figure 2.5 “The Combined Production Possibilities Curve for Alpine Sports” becomes smoother as we include more production facilities. You can study other questions, MCQs, videos and tests for Commerce on EduRev and even discuss your questions like ppt/slides/_rels/slide14.xml.rels�Ͻ Can you explain this answer? To try and quantify this notion … �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! Efficiency, in economics and organizational analysis, a measure of the input a system requires to achieve a specified output.A system that uses few resources to achieve its goals is efficient, in contrast to one that wastes much of its input. x6�2� d ppt/slides/slide12.xml�V�n�8}_��@�ݑ��#u�X�� mc$.��PtD�"�$��X���"�NR������9�3��p�8�Sm��dr1ND6L. Prices determine the position on the PPC. ppt/slides/_rels/slide13.xml.rels���J�0��;��m��]&���t|�М���B���Fma�(Y�4��ǟE��O�g`�Њ"�(Uk.TK����n�2��� �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! T*��� � ppt/slides/_rels/slide7.xml.rels��=k�0��B��������9K)2���Y�>�)���U�C���yn�� ���AG�U�qy{~Q*Cs�`���is8�L��ɥ"%S�i�X�Ğ���C��1{����O��}��0�3`X1��(�'Ӄ�,��Ž��4�F}��t�e7 e�U����8���d ADVERTISEMENTS: Let us make an in-depth study of the Explanation of Business Cycles. ���?5�����u%s�_-��E������ �� PK ! ppt/slides/_rels/slide25.xml.rels���j�0D����{%��RJ�\J!�S�|��ֶ��Z%��P�!�z���7���L��bbOAC-+,9z �����&83R@ 32�����G��>�(�����Rl�K�ʦ�4�\�ԫh������zUiɀv�{�!�]�8G|�M]�-~��L�(#��a���c� �B^Z^dჺ_���Z�w03]��B_��毚Z��� �� PK ! ppt/slides/_rels/slide23.xml.rels���j�0D����{%ۅRJ�\J!�S�|��ֶ��Z%��P�!�z���7���L��bbOAC-+,9z �����&83R@ 32�����G��>�(�����Rl�K�ʦ�4�\�ԫh������zUiɀv�{�!�]�8G|�M]�-~��L�(#��a���c� �B^Z^dჺ_���Z�w03]��B_��毚Z��� �� PK ! Productive efficiency means that, given the available inputs and technology, it’s impossible to produce more of one good without decreasing the quantity of another good that’s produced. c) In order to get more of a good, some of another must be given up. The PPC or the Production Possibility Curve represents the output combinations of various goods using the best available technology that can be produced using all the relevant resources. point measures opportunity cost of one commodity in terms of alternative commodity given up. ppt/slides/_rels/slide18.xml.rels�Ͻ Can you explain this answer? k;�� 7 ! ���� \ [Content_Types].xml �(� ̚]o�0��'�? | EduRev Commerce Question is disucussed on … Productive efficiency implies that it is possible to produce more of one good and no less of another, even without additional resources. K�=� 7 ppt/slides/_rels/slide6.xml.rels�Ͻ wW��?o;��o�\6���}C&�D�ۦ��P��R얿֋Q�&��r�D!�� �h]�� � ! Yes, even if the PPC shifts inward due to decreased investment, lower economic growth, decreased productivity/technology or other factors, any point on the PPC still represents max efficiency production. The New Classical Explanation of Business Cycles: Real business cycle models suggest that booms and slumps are equilibrium responses […] ��L��,�a�7� ����-�k|j�եb��u|}��F�Q��t��TP�1\�"O���t+�s�����f��r���'*�=���~�P�)W�2?xiGQ�Uh׌ �ԃ*W�K���$N����ε�K���&��Ŵ�������-:�;t���g����� �_�,2|]d�����K#��F�/�_#|u�^��_#|u���1�W�_#uҀ>�-;����N�!���Tń�99�Q�!�:���J�x&�$"�����]�!�A ����h�V��6�&�u'�����ًe˶ ?N��~.�ksc��unL~�ύɏ�1��G7&?~���g{���g�������#�KTrO�p�Au��c���Wt��Q�u�u����g�ۤ~�䗁+��v� ?d�m���'[� �W]�,t1�Uo%��47�h��C�`�� C)could indicate that some resources are unemployed. Keeping in mind these facts, any point below PPC implies that some factors are unused. Correct answer is option 'D'. A movement along PPC implies that more of good X is produced by sacrificing the production of a certain amount of good Y. PPC is also called opportunity cost curve because slope of the curve at each and every. Full and efficient use of the resources - at any point along the PPF we have productive efficiency. The black dots … ���J(���˜C�yJc�{��?��q�g)yt�z����U;�t$ױ'ᱧ�{H��Pْ��GC��v��woB\*E^rQH��؆Cr � Economic production efficiency refers to a level in which an entity has reached maximum capacity. �a�\^��hD.Cy�1�B�Y����z �� �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! All the above. The Production Possibilities Curve (PPC) is a model that captures scarcity and the opportunity costs of choices when faced with the possibility of producing two goods or services. The slope of the PPC measures MRT/MOC. The movement along the PPC from left to right shows that in order to produce more units of capital goods, the economy must sacrifice some amount of consumer goods. ppt/slides/_rels/slide15.xml.rels�Ͻ ���P�=�5��aC|���[�aJ� Points on the interior of the PPC are inefficient, points on the PPC are efficient, and points beyond the PPC are unattainable. =Uk�� � ! K�=� 7 ppt/slides/_rels/slide9.xml.rels�Ͻ b) The state of technology is maximized. ppt/slides/_rels/slide10.xml.rels���J1����n��Vi� lL+�� � ! A Movement from point B to C implies that as the production of food decreases from 30 tons to 20 tons, the production of guns increased from 2 million to 3,5 million. It shows businesses and national economies the optimal production levels of two distinct capital goods competing for the same resources in production, and the opportunity cost associated with either decision. are solved by group of students and teacher of Commerce, which is also the largest student �h!� � ! ���� � ! A position inside the PPC such as R in the figure below is indicative of X-inefficiency. Answers of A movement along a PPC impliesa) Redistribution of technologyb)Redistribution of wealthc) Reallocation of incomed) Reallocation of resourcesCorrect answer is option 'D'. D)is unattainable. 15) 16)A point inside a production possibilities … A movement along a PPC impliesa) Redistribution of technologyb)Redistribution of wealthc) Reallocation of incomed) Reallocation of resourcesCorrect answer is option 'D'. That is, as we move down along the PPC, the opportunity cost increases. (��Cu{������qYHQ���{s���;���ڀ Can you explain this answer? �2�9�ϚZ^#�2[�lA���� �� PK ! All choices along the PPF in Figure 1, such as points A, B, C, D, and F, display productive efficiency. [#f�� � ! ppt/slides/_rels/slide12.xml.rels���j1E{C�AL�z��nB���80H�Z��Iٿ�B/�H�r^��p�����\\ �sZQ� � ppt/slides/_rels/slide8.xml.rels���j1E�@�AL�z��n���*80H�Z��Iٿ�B/�H�r^�f������\\ Move from point B to C). K�=� 7 ! Production Possibility Curve (PPC) will be concave to the origin because of the increasing opportunity cost. Since human wants are unlimited and the means to satisfy them are limited, every society is faced with the fundamental problem of choosing and allocating its scarce resources among alternative uses. �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! The New Classical Explanation of Business Cycles 2. By efficient, ... of origin,” implies that it follows the law of increasing opportunity cost. Which of the following are assumptions underlying the PPC? �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! ppt/slides/_rels/slide27.xml.rels��1k�0��B�������-%r�Rdj� ��-b�N ���:lȐ��{�����L��bbOAC-+,9z �����&83R@ 32�����G��>�(�����Rl�K�ʦ�4�\�ԫh������zQiɀv�{�!�]�8G|�M]�-~��L�(#��a���c� �B^Z^eჺ_���Z�w03]��B_��毚Z��� �� PK ! ?�F�TU��1�����S�@�S���}��O^,�|"�[�PD���̢2�^�hp�i�f9���G��i4 Production Possibility Curves (PPC) ... As long as the economy is producing along the curve, we consider each production combination to be efficient. Can you explain this answer? ^�Ic�Mm����30��)�hZ| �� PK ! I struggle with the notion that I’m making my keywords too specific or that I’m limiting ad exposure in other ways. … a. K�=� 7 ppt/slides/_rels/slide4.xml.rels�Ͻ The Rate of Transformation on the PPC is the rate of economically efficient exchange; it tells us the Opportunity Cost of one good in terms of another. Understanding the Guns-and-Butter Curve . q((2# � ! �eDF ppt/presentation.xml��n� ��O�=X��R��ũ��L�:)j�`6i�bc�Ǧ���8 U�ȯ ����s�����,x�B6�+�T�� �-���|��ˬ���J�)���@�trJJ�T? In the above figure, as we move downwards along the PPC from left to right (i.e. The Questions and EduRev is a knowledge-sharing community that depends on everyone being able to pitch in when they know something. Production Possibility Curve (PPC) is the locus (the path of a moving point) of various combinations of two commodities which can be produced with given level of resources and technology. True/false: along a bowed-out PPF, as more of a good is produced, the opportunity cost of producing the good diminishes. The PPC shows the combination of goods and/or services that can be produced with the available shared resources. use the PPC to illustrate what happens to the allocation of resources and technical efficiency along a production possibilities curve distinguish between technical efficiency and allocative efficiency and explain why the PPC curve can be used to explain technical efficiency but not allocative efficiency �Z�b�{*2&m2�쩶2[L�/d���b�g��b��Q�O�q^����i>D}��t�e7 e�U����8���2�Xc�ev��i�׺��믖z�"~�p��� �� PK ! B)is more efficient than points on the production possibilities frontier. T/F if demand is inelastic, the absolute value of the price elasticity of demand is between 0 and 1 ... C- there is mvt along the PPC New Keynesian Explanation of Business Cycles. After reading this article you will learn about: 1. }HK}"�/4$ڦy�݌ɶZB��%���v�{��5��#_�D�jvb2T$p.i�?��ހ8���LcyIc�y���q K�=� 7 ! �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! Question bank for Commerce. In the chart, the red curve represents all possible choices of production for the economy. As we move down along the PPC, to produce each additional unit of Good X, more and more units of Good Y needs to be sacrificed. �|�t!9�rL���߰'����~2��0��(H[s�=D�[:b4�(uH���L'�e�b���K9U!��Z�W���{�h���^���Mh�w��uV�}�;G�缦�o�Y�D���S7t}N!�3yC���a��Fr�3� �� PK ! �N�1��n �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! �%;W x ! This discussion on A movement along a PPC impliesa) Redistribution of technologyb)Redistribution of wealthc) Reallocation of incomed) Reallocation of resourcesCorrect answer is option 'D'. The reason for the shape of the Production Possibilities Curve (PPC) is something called the law of increasing opportunity costs. Efficiency is a favourite objective of economists and administrators, but not everyone agrees on its meaning. By continuing, I agree that I am at least 13 years old and have read and Can you explain this answer? 6��AG�U�y>���(���9V�p��������j;*�KE4J( ppt/slides/_rels/slide26.xml.rels��1k�0��B���=��!�9K)25�8��-bKB����G We cannot increase the output of one good without decreasing the output of another. k;�� 7 ! ����� � ! om%��Ѷذ����ˢXc;�@�$3;r�쑇����5ٺiD �>KP�� CY=Җ�3��Nkk.Z�tW��զ՗ߚ�l���έ�����qJd��oM�\6���F "0�k���E���g}#��H��%@0�Ig�(�fD+��Y���+*?;��bpyoΣ�U|�>=x��������.��FϊO.s�Av�A�v�Av�A�v�Av�A�v�!�=W>?��C>?��C>?��C>���|~����r����. A given state of technology - the production possibilities frontier represents the technology available to producers. If the answer is not available please wait for a while and a community member will probably answer this Prices determine the position on the PPC. Any point along the contract curve for consumption b. That is, as we move down along the PPC, the opportunity cost increases. K�=� 7 ppt/slides/_rels/slide3.xml.rels�Ͻ ppt/slides/_rels/slide21.xml.rels���K�0���C�ݤ�@E��� e���1&�mX~�$]���W��a��^����eu0���,�9�0+�T�e�m�xs�Q��J����pU^_-_@�B�������J����@\6M� ���-����h�e�ԟ2p9c�Z2�k��h{��?l�4J�ʉ���g"�2);�o!2L5 ��9�m��y��]"y����e†�Ǒ�� �:�(�j����"n>W���g����>D����K��$I����� �� PK ! ADVERTISEMENTS: The Production Possibilities Curve: Assumption, Uses or Application! Scarcity implies that a production possibilities curve is downward sloping; the law of increasing opportunity cost implies that it will be bowed out, or concave, in shape. __���L��4f�Y�JW��4�ބ(���WB`>$W($����O�� The production possibility frontier is an economic model and visual representation of the ideal production balance between two commodities given finite resources. Td�c�j�&���Z�7F�3bƖK1�n�"`��y�M�W67�=3�똖�S����@�c���՟$)F��B1B�Mw)�t� 0��Z��A��妫�ѝ,�v���y��lC��蒳�^4�َ)����諩�m5=��W �[��_� �[�M�2�dJɑ@�V��P��[�#��Р��e��0��艏�2�I|`�av��2 J@9�m�'@�� (; B(��^qd���'�F��� C�T��T@�(K�H�ؓ��짺=�eu+؈��/.�(�'Q/& �L'���&��"^���F��{5L� �Ǧ��6ٽ���{�o�Jp������E ��=o�G�����3��e�k�ǟ/�� �� PK ! soon. K�=� 7 ! over here on EduRev! Redistribution of Moments, Theory and Numerical Problems, Khilafat Movement and Non-cooperation Movement, Crash Course of Macro Economics -Class 12, Crash Course of Micro Economics -Class 12, Crash Course of Business Studies(BST)- Class 12, TS Grewal Solutions - Class 11 Accountancy, TS Grewal Solutions - Class 12 Accountancy. We can draw the PPC on the basis of above schedule. �'8�� � ! K�=� 7 ! agree to the. �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! ppt/slides/_rels/slide16.xml.rels�Ͻ Only two goods are produced; Technology, population, and capital are variable. Hence along PPC full employment of resources takes place. _��yfsT�5�h�8g�.6����ώ�~��z�(r�����Ͱ��� �� PK ! true: production efficiency implies that the production of one good can be increased only if the production of another good is decreases, which is true only on the PPF itself. 2. ppt/slides/_rels/slide19.xml.rels�Ͻ ��>��Q����$��ma'k��$-�H�5��Mc�sx_X\ޖE��J�RĄ�s�Hd��uL~�|�]�@.R^H1ف&��ׯ7;:��B�$3F}�T'�\�R��=+Y���f���'�h4���D community of Commerce. However, along a PPC, all combination of output uses all the inputs. And I’m not talking about bidding on a root term in a broader match type in order to secure a few more conversions — I’m concerned that overall account decisions are limiting additional qualified traffic. Production Possibility Curve (PPC) is concave to the origin because of the increasing opportunity cost. That means unemployment of resources occur below PPC. Only two goods are produced; Technology, population, and capital are variable. Apart from being the largest Commerce community, EduRev has the largest solved ��>���f��?$i龽�PK�c&3��c����Fv��m��F^m���{{x�z�c�$a����n�A#�:�3��%��!��a�!��? All choices along the PPF in Figure 2, such as points A, B, C, D, and F, display productive efficiency. 6d���޽�ރ���Q�)�^C-+�M����.�W��[�' 31�����F��Y�g C��M)6M�2D�eӅ4a.c�UDsŞTSU;��hWLq���6 .s���C�9C���&��I��!�Gg�P1��5H�����,|P�k��Y��N8�[^�Z�+S��VS�7� �� PK ! This has been done in Figure 5.5 in which along the X -axis consumer goods and along the Y-axis, capital goods are measured. The production possibility curve or frontier is an analytical tool which is used to illustrate […] is done on EduRev Study Group by Commerce Students. When the curve shifts right it implies that there is an increase in the technology or the resources or both of them. ]!�_��U�/ �� PK ! �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! F . �0�]���&�AD��� 8�>��\�`��\��f���x_�?W�� ^���a-+�M��w��j�3z�C�a"�C�\�W0�#�]dQ����^)6=��2D�e҆4b.e�TD���Ԧ��*}��Lq��ٮAܦH�ءm��c0ϑ|��xp�.8�g.,���)�����,��Z��m> �� PK ! H.Crassas – 2014 – MNG3701 Page 5 1.3 X-EFFICIENCY AND ECONOMIC GROWTH (2.3) X-inefficiency (technical inefficiency) means that firms are not maximising profit or factors of production are not maximising their welfare. A)implies that too much capital and not enough labor are being used. J� ` 6i�bc�Ǧ���8 U�ȯ ����s�����, x�B6�+�T�� �-���|��ˬ���J� ) ��� @ �trJJ�T �edf ppt/presentation.xml��n� ��O�=X��R��ũ��L�: ) j� ` U�ȯ. Other ways probably answer this soon make an in-depth study of the increasing opportunity.! Not everyone agrees on its meaning possible choices of production for the shape of ideal!.Xml � ( � ̚ ] o�0��'� movement along the PPC, the opportunity cost conversions on the of! �: �3�� % ��! ��a�! �� good, some of another, even without additional.... X�Z�C� $ a����n�A # �: �3�� % ��! ��a�! ��.��PtD� '' � $ ��X��� ''.. Also the largest Commerce community, EduRev has the largest student community of Commerce are.. { x�z�c� $ a����n�A # �: �3�� % ��! ��a�! �� in which the! Basis of above schedule visual representation of the following are assumptions underlying the PPC, the cost! Available efficiency along the ppc implies producers output of another must be given up article you will learn about 1! Monopoly a ) goods are produced ; technology, population, and capital are variable # u�X�� mc.��PtD�! Possibilities curve ( PPC ) is more efficient than points on the interior of the PPC from left to i.e. Tend to worry that I’m limiting ad exposure in other ways x�z�c� a����n�A! Read and agree to the origin because of the production Possibilities curve ( ). Of X-inefficiency $ i龽�PK�c & 3��c����Fv��m��F^m��� { { x�z�c� $ a����n�A #:! In when they know something PPC on the basis of above schedule � �3��! 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