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AP Microeconomics 1.3 Production Possibilities Curve Questions

Use production possibilities curves and tables to analyse productive efficiency, trade-offs, opportunity costs, curve shapes, technological change, and economic growth.

Syllabus
Effective Fall 2022
Course
AP Microeconomics

Exam points

  • interpret PPC positions and movements to classify efficiency, attainability, and trade-offs
  • calculate opportunity cost from changes between output combinations on a graph or table
  • use linear or bowed-out PPC shapes to identify constant or increasing opportunity costs
  • explain outward or inward PPC shifts from changes in resources, technology, or productive capacity
  • analyse a sector-specific PPC rotation and its different effects on the two opportunity costs

Covered syllabus points

MKT-1.C—a. Define (using graphs as appropriate) the production possibilities curve (PPC) and related terms. b. Explain (using graphs as…

Question 1

[Maximum number: 1]

What law best describes a production possibilites curve that has a bowed out or concave shape from the origin?

A

The law of productive efficiency

B

The law of diminishing marginal utility

C

The law of increasing opportunity cost

D

The law of supply

E

The law of demand

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