Production Possibilities Curve Worksheet
An 11th-grade economics worksheet exploring the Production Possibilities Curve, scarcity, opportunity cost, and economic efficiency.
Includes
Standards
Topics
Production Possibilities Curve
Name:
Date:
Score:
Read each question carefully and answer to the best of your ability. Refer to your knowledge of the Production Possibilities Curve (PPC) and related economic concepts.
1. Define the Production Possibilities Curve (PPC) and explain its purpose in economics.
2. Which of the following best describes scarcity?
Unlimited resources
Limited wants
Unlimited wants and limited resources
Abundant goods and services
3. The concept of is illustrated by the downward slope of the Production Possibilities Curve.
4. A point inside the PPC indicates resources, while a point outside the PPC is with current resources.
5. Analyze the following Production Possibilities Curve for an economy producing only two goods: Cars and Computers.
a) What does point A represent on the PPC?
b) What does point B represent on the PPC?
c) What does point C represent on the PPC?
6. Economic growth is represented by an inward shift of the Production Possibilities Curve.
True
False
7. Explain the concept of opportunity cost in the context of the Production Possibilities Curve.