IB Economics UPDATED Exam Questions And Correct Answers
Actual Output Production of goods and services in a given time period Potential output Possible production of goods or services in an economy if all available factors are employed Actual Growth Occurs where previous unemployment of factors of production are brought into use. It is represented on the PPC curve from a point to another point that is nearer to PPC curve. Potential Growth Occurs when there is an increase in quantity and increase in quality of factors of production. It is represented by shift of PPC curve
Escuela, estudio y materia
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- IB Economics
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- IB Economics
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- Subido en
- 19 de marzo de 2024
- Número de páginas
- 17
- Escrito en
- 2023/2024
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- Examen
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ib economics
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ib economics updated exam questions and correct a