Unit 1 - Production possibilities curve (PPC)

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part 2

Economics

IB Economics (HL)

Introduction to economics

Last updated 9:59 PM on 5/26/24
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5 Terms

1
New cards
<p>A</p>

A

not using all resources

2
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<p>X</p>

X

unattainable with fixed resources and available tech

3
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<p>A → D</p>

A → D

actual growth

4
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<p>D → X</p>

D → X

potential growth

5
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For potential growth you need

increased tech quality, quality of FOP quantity of FOP