February/March 2026 Paper 12

2026 · 30 questions · 30 parts · 30 marks

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5Production Possibility Curves Growth Trade OffsMedium1 mark
In the diagram the original production possibility curve is LM.
Diagram, a production possibility curve (PPC) with consumer goods on the vertical axis and capital goods on the horizontal axis. The original, outer curve LM runs from L on the consumer-goods axis to M on the capital-goods axis. A second, smaller curve NP lies entirely inside it, running from N (below L) on the consumer-goods axis to P (to the left of M) on the capital-goods axis.
What could cause the curve to shift to NP?