Production-possibility frontier In economics‚ a production-possibility frontier (PPF) or “transformation curve” is a graph that shows the different quantities of two goods that an economy (or agent) could efficiently produce with limited productive resources. Points along the curve describe the trade-off between the two goods‚ that is‚ the opportunity cost. Opportunity cost here measures how much an additional unit of one good costs in units forgone of the other good. The curve illustrates that
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sweet kisses as well Or the I’ll never lead you’s? Of all the broken promises I’ve forgiven you for This one is different" She says as she walks out the door. Now listen to me‚ and do listen close For I shall tell you a story That no one else knows It’s about a broken hearted girl Trying so hard to face this cruel world Having no one to save her As her tear filled eyes Make everything a blur. Her parents say they hate her For her atrocious attitude And bad behavior "If
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The Production Possibility Frontier Consider the case of an island economy that produces only two goods: wine and grain. In a given period of time‚ the islanders may choose to produce only wine‚ only grain‚ or a combination of the two according to the following table: Production Possibility Table Wine|Grain| (Thousand of bottles)|(Thousand of bushels)| 0|15| 5|14| 9|12| 12|9| 14|5| 15|0| The production possibility frontier (PPF)
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Considering the production of maize and shirts in Botswana‚ we can use the notion of the production possibilities curves to determine levels of efficiency‚ inefficiency‚ economic growth and technological improvement. The production possibilities curve (PPC) is a graph that shows the different quantities of the two goods (in this case‚ maize and shirts) that an economy (Botswana) could efficiently produce with the limited productive resources. To be able to illustrate this simply we assume that
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In the short story‚ Just Lather‚ That’s All‚ the author Hernando Téllez addresses the importance of making moral decisions. The barber‚ the protagonist‚ wishes to do his job honourably and he weighs his options - when deciding to kill Captain Torres. The barber ponders “Murder or hero? […] But I don’t want to be a murder. You came for a shave. And I perform my work honourably… I don’t want blood on my hands. […] Each person has his own place in the scheme of things”(51). The barber looks if his
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Problem and cause of Evil Zerrrouk(PN) In this paper‚ I will compare Augustine’s views on the problem of evil‚ and Thomas Aquinas’ view on The Cause of Evil. I will compare the views of both of these philosophers by picking out the similarities and the differences. I will conclude with my own opinion‚ and what one I think is the most viable as a probable case. For Augustine‚ the problem of evil can be phrased in a few several ways. One approach addresses the origin of evils prompting the syllogism:
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believed could ever come true‚ but today it is happening. The scientific and technological advancements in society today have led to a promising change in the cloning and creation of organisms. There are two articles that specifically discuss the possibility of creating a real Frankenstein which will be addressed in the following paragraphs. The article “Human Cloning Within 50 Years” discusses the predictions of scientists having the ability to clone humans within the next 50 years. Scientist Sir
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Nothing is Impossible All of us‚ at some stage‚ have dreamed of being somebody special‚ somebody famous‚ a celebrity. Who hasn’t imagined about being the player scoring the game-winning touchdown? Who hasn’t dreamed of being the next miss universe? And how many times have we dreamed of being a millionaire‚ or successful‚ or happy with our love life? Generally‚ we dream huge dreams and have big aspirations. Mostly however‚ our dreams remain only that – dreams. Eventually our hopes are just get
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Adding on‚ being employed provides access to many more amenities in life. In Zone One the employed population had an overall better life with amenities such as better housing‚ eating quality meals‚ and not having to worry about an overall financial breakdown. On the flip side of the novel Mark and the rest of the lower class were stuck performing awful jobs and virtually living day by day as the lower class really didn’t know what to expect from life. Mark was a hard worker day in and day out
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Question 2 Show the PPF curve under decreasing and increasing returns to labour. The Production possibility frontier analyses the most efficient use of company resources to achieve different levels of production of output. Labour is one of the variables factors of production. One unique feature of the PPF is that one alternative is usually foregone in order to maximize the production of another product‚ for example‚ in a refinery a manager may decide to deploy more human resources to produce
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