Question

1.
What does a Production Possibility Curve indicate ?
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Answer 1

Answer:

The production possibilities curve (PPC) is a graph that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the production possibilities frontier (PPF), the PPC illustrates scarcity and tradeoffs.

Answer 2

• ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴘᴏssɪʙɪʟɪᴛɪᴇs ᴄᴜʀᴠᴇ (ᴘᴘᴄ) ɪs ᴀ ɢʀᴀᴘʜ ᴛʜᴀᴛ sʜᴏᴡs ᴀʟʟ ᴏғ ᴛʜᴇ ᴅɪғғᴇʀᴇɴᴛ ᴄᴏᴍʙɪɴᴀᴛɪᴏɴs ᴏғ ᴏᴜᴛᴘᴜᴛ ᴛʜᴀᴛ ᴄᴀɴ ʙᴇ ᴘʀᴏᴅᴜᴄᴇᴅ ɢɪᴠᴇɴ ᴄᴜʀʀᴇɴᴛ ʀᴇsᴏᴜʀᴄᴇs ᴀɴᴅ ᴛᴇᴄʜɴᴏʟᴏɢʏ. sᴏᴍᴇᴛɪᴍᴇs ᴄᴀʟʟᴇᴅ ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴘᴏssɪʙɪʟɪᴛɪᴇs ғʀᴏɴᴛɪᴇʀ (ᴘᴘғ), ᴛʜᴇ ᴘᴘᴄ ɪʟʟᴜsᴛʀᴀᴛᴇs sᴄᴀʀᴄɪᴛʏ ᴀɴᴅ ᴛʀᴀᴅᴇᴏғғs.