https://padlet.com/lloyd_d/vrilszp69m1g In 2013, an earthquake on the Iran/Pakistan border destroyed many factories and homes. Some officials wanted the Governments to rebuild the factories and homes, even though there would be an opportunity cost. Others suggested that some people should be encouraged to emigrate. (a) Define ‘opportunity cost’. [2] (b) Explain why the economic problem can never be solved. [4] (c) Using a production possibility curve diagram, analyse the effect of the destruction of some of its resources on an economy. [6] (d) Discuss whether a country will benefit from the emigration of some of its people. [8] en-us 2018-03-01 03:18:39 UTC 2024-07-24 16:30:27 UTC hello@padlet.com https://padlet.com/lloyd_d/vrilszp69m1g/wish/236761941 An earthquake reduces the amount of resources available for use. This means less can be produced even if all resources are fully utilised, this shifting the production possibility frontier to the left, inwards.]]> 2018-03-01 03:23:32 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236761941 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762552 ppc will shift inwards. this is because many resources are destroyed during an earthquake. therefore there will be lesser resources so the curve shifts inwards]]> 2018-03-01 03:27:15 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762552 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762571 The PPC shifts to the left because there is now lesser resources to produce a combination of capital goods and consumer goods.]]> 2018-03-01 03:27:20 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762571 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762655 Factors of Production will be destroyed, less resources to be utilised in the economy. Curve shifts inwards

]]> 2018-03-01 03:27:45 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762655 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762782 if an earthquake happens, there are less resources available to use to produce goods and the amount of goods produced will reduce. ]]> 2018-03-01 03:28:21 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762782 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762819 2018-03-01 03:28:33 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236762819 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763214 The PPC curve will shift to the left due to destruction. Less resources are available and ]]> 2018-03-01 03:30:43 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763214 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763330 2018-03-01 03:31:16 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763330 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763335 2018-03-01 03:31:18 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763335 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763402 2018-03-01 03:31:37 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763402 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763435 2018-03-01 03:31:47 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763435 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763491 Case study

]]> 2018-03-01 03:32:13 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763491 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763653 2018-03-01 03:33:12 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763653 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763731 The destruction of resources is caused by MAXIMUM POWER]]> 2018-03-01 03:33:39 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763731 https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763770 2018-03-01 03:33:48 UTC https://padlet.com/lloyd_d/vrilszp69m1g/wish/236763770