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Production Possibilities Curves

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Term
Definition
Production Possibilities Curves   show
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show On the graph, it is the line that is drawn connecting the values of both items produced.  
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Efficiency   show
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show Using fewer resources than an economy is capable of using.  
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show Is the alternative given up when we choose one option over the other. ( This is not necessary money)  
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show As production switches from one item to another, more resources are necessary and cost of producing the second item increases.  
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Created by: lmeighan
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