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  • Final Econ

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    Grace Dumaog
    8 views4 pages
    Point H represents an efficient level of production that fully employs all available resources for both food and clothing production, with no waste or unemployment. Point X is inefficient because it fails to fully use available resources for one or both goods. A chart shows the production possibilities curve and relative amounts of food and clothing that could be produced, with points H and X marked on the curve.

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    FINAL ECON

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    Point H represents an efficient level of production that fully employs all available resources for both food and clothing production, with no waste or unemployment. Point X is inefficient because it fails to fully use available resources for one or both goods. A chart shows the production possibilities curve and relative amounts of food and clothing that could be produced, with points H and X marked on the curve.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    8 views4 pages

    Final Econ

    Uploaded by

    Grace Dumaog
    Point H represents an efficient level of production that fully employs all available resources for both food and clothing production, with no waste or unemployment. Point X is inefficient because it fails to fully use available resources for one or both goods. A chart shows the production possibilities curve and relative amounts of food and clothing that could be produced, with points H and X marked on the curve.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    1

    0.9
    0.8
    0.7
    0.6
    0.5
    0.4
    0.3
    0.2
    0.1
    0
    1
    ECON 11- BASIC MICROECONOMICS
    NAME: DUMAOG, MA. GRACE J.
    COURSE/YEAR: BSBA-FM2
    TIME/DAYS: AS3 MON: 2:30PM-4:00PM
    MODULE 1: MAJOR ASSESSMENT

    8.5 Chart Title


    •A
    Clothing Production

    7.5
    •B
    6.5
    C
    H
    5.0
    D
    3.0 E
    U
    F
    0
    1 2 3 4 5
    Food Production

    Point H is one possible combination of levels of production of both food and


    clothes . Point H is effecient in that all of the economies resources are being
    fully employed, and their is no waste or unemployment.

    Point X is inefficient because not all resources are fully utilized.

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