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Unemployment is reduced due to measures taken by the government. State its value in the context of production possibility curve (PPC)?
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Unemployment is reduced due to measures taken by the government. State...
Value of Reduced Unemployment in the Context of Production Possibility Curve (PPC)



  • Introduction


    • Production Possibility Curve (PPC) represents the maximum output combinations that an economy can produce with its limited resources and technology.

    • Unemployment is the state of being without work even when an individual is willing to work and actively seeking employment.



  • Impact of Unemployment on PPC


    • Unemployment leads to a decrease in the utilization of available resources, as unemployed individuals are not contributing to the production process.

    • This results in a shift of the PPC inwards, as there is a decrease in the maximum potential output of the economy.



  • Measures to Reduce Unemployment


    • The government can implement policies and programs to reduce unemployment, such as providing job training, encouraging entrepreneurship, and investing in infrastructure projects.

    • When unemployment is reduced, more individuals are employed and contributing to the production process, leading to an increase in the utilization of available resources.



  • Impact of Reduced Unemployment on PPC


    • Reducing unemployment leads to an increase in the utilization of available resources, as more individuals are employed and contributing to the production process.

    • This results in a shift of the PPC outwards, as there is an increase in the maximum potential output of the economy.

    • Reducing unemployment can also lead to an increase in innovation and technological advancements, which can further shift the PPC outwards.



  • Conclusion


    • Reducing unemployment has a positive impact on the PPC, as it leads to an increase in the utilization of available resources and the maximum potential output of the economy.

    • Therefore, it is important for governments to implement policies and programs to reduce unemployment in order to promote economic growth and development.


Community Answer
Unemployment is reduced due to measures taken by the government. State...
Reduction of unemployment will make the economy move closer to the PPC , implying higher level of output
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Unemployment is reduced due to measures taken by the government. State its value in the context of production possibility curve (PPC)?
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Unemployment is reduced due to measures taken by the government. State its value in the context of production possibility curve (PPC)? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Unemployment is reduced due to measures taken by the government. State its value in the context of production possibility curve (PPC)? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Unemployment is reduced due to measures taken by the government. State its value in the context of production possibility curve (PPC)?.
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