The ________ of moving from one efficient combination of production to another efficient combination of production is how much of one good is given up in order to get more of the other good.
New cards
2
Production Possibilities Curve
The ________ (PPC) is a model that captures scarcity and the opportunity costs of choices when faced with the possibility of producing two goods or services.
New cards
3
Production Possibilities Curve
The ________ (PPC) is a model used to show the tradeoffs associated with allocating resources between the production of two goods.
Studied by 0 people
Note 
Flashcard (40)