Production Possibility Frontier
GPTKB entity
Statements (51)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:abbreviation |
gptkb:PPF
|
| gptkbp:alsoKnownAs |
gptkb:Production_Possibility_Curve
Transformation Curve |
| gptkbp:appliesTo |
individuals
countries firms |
| gptkbp:assumes |
full employment
fixed resources fixed technology only two goods |
| gptkbp:axisLabel |
quantity of good X
quantity of good Y |
| gptkbp:can_shift |
inward with resource loss
outward with economic growth |
| gptkbp:demonstrates |
economic growth
efficiency opportunity cost scarcity trade-offs law of increasing opportunity cost |
| gptkbp:describes |
maximum output combinations
|
| gptkbp:example |
cars and computers
guns and butter |
| gptkbp:firstDescribed |
1930s
|
| gptkbp:graphType |
two-dimensional graph
|
| https://www.w3.org/2000/01/rdf-schema#label |
Production Possibility Frontier
|
| gptkbp:originatedIn |
gptkb:economist
|
| gptkbp:relatedTo |
comparative advantage
resource allocation production efficiency economic efficiency absolute advantage |
| gptkbp:shape |
can be linear
concave to the origin |
| gptkbp:shows |
efficient production points
inefficient production points unattainable production points |
| gptkbp:teaches |
choices involve trade-offs
efficiency is on the curve inefficiency is inside the curve not all combinations are possible resources are limited unattainable points are outside the curve |
| gptkbp:usedFor |
analyzing economic growth
analyzing opportunity cost analyzing resource use analyzing trade |
| gptkbp:usedIn |
economics
|
| gptkbp:bfsParent |
gptkb:Production_Possibility_Curve
|
| gptkbp:bfsLayer |
6
|