BEEB 1013 PRINCIPLES OF ECONOMICS (GROUP P)

QUIZ 2

Name:
Matric No :

Question 1
Give a definition of an advance in technology. Suppose that you are drawing a
PPF for civilian goods and military goods, describe the effect on the PPF of an
advance in technology in both civilian goods and military goods. How would
the impact on the PPF be different if the technological improvement only
helped in the production of military goods, but not civilian goods?

1
Question 2
Explain what productive efficiency means. Describe how productive efficiency
is represented by a PPF.

END OF QUESTIONS