Production Possibility Curve
GPTKB entity
Statements (27)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:alsoKnownAs |
gptkb:PPF
gptkb:Production_Possibility_Frontier gptkb:PPC |
| gptkbp:assumes |
full employment
fixed resources fixed technology only two goods produced |
| gptkbp:can_shift |
due to changes in resources
due to technological advancement |
| gptkbp:demonstrates |
economic growth
efficiency opportunity cost scarcity trade-offs |
| gptkbp:describes |
maximum possible output combinations of two goods
|
| https://www.w3.org/2000/01/rdf-schema#label |
Production Possibility Curve
|
| gptkbp:origin |
economists such as Paul Samuelson
|
| gptkbp:point_inside_curve |
inefficient production
|
| gptkbp:point_on_curve |
efficient production
|
| gptkbp:point_outside_curve |
unattainable with current resources
|
| gptkbp:shape |
typically concave to the origin
|
| gptkbp:shows |
law of increasing opportunity cost
|
| gptkbp:used_in |
macroeconomics
microeconomics |
| gptkbp:bfsParent |
gptkb:PPC
|
| gptkbp:bfsLayer |
5
|