On a production possibility curve, data points that fall outside of the curve represent a) an inefficient allocation of resources. b) a balanced allocation of resources. c) ideal production. d) a currently unattainable production.

Need a paper written? Our academic experts can create an original essay on any subject for ~~$13.00~~ $11/page Learn More

A currently unattainable production.

Explanation:

A production possibility curve, or PPC, also known as production possibility frontier or PPF, is the representation of the amounts of goods and services an economy can produce using the given technology and resources. PPC is used to analyze the amount of production that would be the most beneficial for the country’s or economy’s economic growth. You can see the example of PPC/PPF in the picture below.

The data points represented on PPC can show the cost of manufacturing or the opportunity to produce more items. The points that fall outside of the curve show unattainable production, which happens due to the lack of capital, labor force, or materials.

Production possibility curve graph. — Production possibility curve (Source: www.policonomics.com)

Rate the answer:

Answer by Academic.tip's expert

An answer to this question is provided by one of our experts who specializes in business & economics. Let us know how much you liked it and give it a rating.

Cite this page

Select a citation style:

References

Academic.Tips. (2020) 'On a production possibility curve, data points that fall outside of the curve represent a) an inefficient allocation of resources. b) a balanced allocation of resources. c) ideal production. d) a currently unattainable production'. 3 June.

Reference

Academic.Tips. (2020, June 3). On a production possibility curve, data points that fall outside of the curve represent a) an inefficient allocation of resources. b) a balanced allocation of resources. c) ideal production. d) a currently unattainable production. https://academic.tips/question/on-a-production-possibility-curve-data-points-that-fall-outside-of-the-curve-represent/

References

Academic.Tips. 2020. "On a production possibility curve, data points that fall outside of the curve represent a) an inefficient allocation of resources. b) a balanced allocation of resources. c) ideal production. d) a currently unattainable production." June 3, 2020. https://academic.tips/question/on-a-production-possibility-curve-data-points-that-fall-outside-of-the-curve-represent/.

1. Academic.Tips. "On a production possibility curve, data points that fall outside of the curve represent a) an inefficient allocation of resources. b) a balanced allocation of resources. c) ideal production. d) a currently unattainable production." June 3, 2020. https://academic.tips/question/on-a-production-possibility-curve-data-points-that-fall-outside-of-the-curve-represent/.

Bibliography

Academic.Tips. "On a production possibility curve, data points that fall outside of the curve represent a) an inefficient allocation of resources. b) a balanced allocation of resources. c) ideal production. d) a currently unattainable production." June 3, 2020. https://academic.tips/question/on-a-production-possibility-curve-data-points-that-fall-outside-of-the-curve-represent/.

Work Cited

"On a production possibility curve, data points that fall outside of the curve represent a) an inefficient allocation of resources. b) a balanced allocation of resources. c) ideal production. d) a currently unattainable production." Academic.Tips, 3 June 2020, academic.tips/question/on-a-production-possibility-curve-data-points-that-fall-outside-of-the-curve-represent/.

Copy