Let's discuss shifting and the basic properties of a Production Possibility Curve (PPC) in easy language: ** Shifting of PPC :** A PPC can shift or move when certain factors in an economy change. Here are the key factors and how they can cause the PPC to shift: 1. ** Change in Resources :** If a country discovers new natural resources (like oil) or experiences a depletion of existing resources, the PPC can shift. Discovering new resources can expand the possibilities of production, shifting the PPC outward. Depletion of resources may lead to a shift inward, reducing production possibilities. 2. ** Technological Advancements :** Technological advancements can lead to more efficient production methods. When technology improves, the PPC can shift outward, indicating that more goods and services can be produced with the same resources. 3. ** Changes in Workforce or Population :** An increase in the workforce or population can lead to a shift outward in the PPC because there are more ...
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