|
|
Consumption possibility frontier |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Consumption possibility frontierA graph of the maximum quantities of goods (usually two) that an economy can consume in a specified situation, such as autarky and free trade. Used to illustrate the potential benefits from trade by showing that it can expand consumption possibilities.Similar MatchesConsumption externalityConsumption externalityAn externality arising from consumption. Consumption taxConsumption taxSee: Value-added tax Apparent consumptionApparent consumptionProduction plus imports minus exports, sometimes also adjusted for changes in inventories. The intention here is not to distinguish different uses for a good within the country, but only to infer the total that is used there for any purpose. |
|
|
|