Explain the issue using a ppf, Microeconomics

Assignment Help:

A country s choice among the production of education and nuclear submarines is an issue of opportunity cost.

Explain the issue using a PPF.

Resources are limited whereas wants are infinite and the choices made lead to opportunity costs - explained as the next-best alternative given up. The PPF determines the opportunity cost in the movement along the PPF; enhance in submarines has an opportunity cost of an amount of education as societal resources are limited.

 


Related Discussions:- Explain the issue using a ppf

Properly mixed strategy, A " properly mixed strategy " means a mixed strate...

A " properly mixed strategy " means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneo

Supply of labour, use a graphical illustration to briefly describe what the...

use a graphical illustration to briefly describe what the influence of an increase in immigrants would be on the market supply of labour

#title.microeconomics issues., how microeconomic issues maybe represented ...

how microeconomic issues maybe represented using production posibility curve

Macroeconomics, A government is currently operating with an annual budget d...

A government is currently operating with an annual budget deficit of $40 billion. The government has determined that: • Every $10 billion reduction in the amount of bonds it issue

Effects of inflation, Effects of inflation: On Income Earners:Those on...

Effects of inflation: On Income Earners:Those on fixed incomes or assets (fixed in nominal terms) lose. However, those on incomes, which are directly related to the price leve

Due diligence, Due Diligence The investigative procedure an investor s...

Due Diligence The investigative procedure an investor should conduct into the operations and business strategy assumptions of an organization soliciting investors.

Firms and industry, explain the main criteria for classifying firms into in...

explain the main criteria for classifying firms into industries.which criteria serve the better and why?

Find the highest interest rate, Find the highest interest rate: There ...

Find the highest interest rate: There are 2 entrepreneurs, Sally and Paul.  The return to their projects are given by: To finance the project, each entrepreneur needs

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd