Search results with tag "Production possibility curve"
CSEC® Economics Past Papers
smahelalbusiness.weebly.comDefme a 'production possibility curve'. ( 2 . marks) (b) Identify THREE advantages of the division of labour. ( 3 . marks) (c) With reference to the sugar industry, distinguish between 'primary' and 'secondary' factors of production. ( 4 marks) (d) If . the quantity of capital available for production in your country increases but labour
EDEXCEL INTERNATIONAL GCSE (9–1) ECONOMICS - Pearson
www.pearson.com2. Draw an outline of a production possibility curve and explain that all the resources in an economy can be placed in one of two categories: consumer goods or capital goods. a) Consumer goods are goods which consumers purchase (e.g. cheese) b) Capital goods are equipment used to make other (consumer) goods. Resources are used to make one type ...
IGCSE Economics 0455/23 Paper 2 Structured Questions ...
papers.gceguide.com(c) Analyse, using a production possibility curve (PPC) diagram, the effects of a decrease in the quantity of capital goods in an economy. [6] (d) Discuss whether or not a government should allow monopolies. [8] 4 The use of supply-side policy measures, including deregulation, is moving China closer to a market economic system.