How can an economy achieve allocative efficiency?

How does the shape of a PPF graph change as resources become more specialized?

Using the arc method, calculate the average slope between points A (2, 10) and B (4, 6) on a PPF graph.

What is the difference between an industry-specific and a general outward shift in the PPF?

What is the likely effect of population growth on the PPF of an economy?

If a country can produce 100 units of good A or 200 units of good B, and another country can produce 150 units of good A or 150 units of good B, which country has the absolute advantage in producing good A?

What does a point on the Production Possibilities Frontier (PPF) represent?

How does trade increase overall value and consumption for both parties involved?

What role does the trade price play in determining the benefits of trade?

If the trade price is 3 units of good X for 2 units of good Y, how many units of good Y can be obtained by trading 9 units of good X?

What is the goal of equity in trade?

What is the role of comparative advantage in trade?

How does a decrease in supply of a good affect the price of trade?

Which factor is most likely to influence the final agreed-upon price within the trade range?

How does comparative advantage affect the terms of trade?