Conclusion for production possibility curve
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Heya...
Production Possibility Curve is that curve which show the different possible combinations of two goods that can be produced at given resources...
Assumptions...
"" Resources are given...
"" Resources are fully and efficiently utilised...
"" Technology remains constant...
Properties...
"" PPC is concave to the origin...
"" PPC is sloping downwards...
-- Be Brainly...
Production Possibility Curve is that curve which show the different possible combinations of two goods that can be produced at given resources...
Assumptions...
"" Resources are given...
"" Resources are fully and efficiently utilised...
"" Technology remains constant...
Properties...
"" PPC is concave to the origin...
"" PPC is sloping downwards...
-- Be Brainly...
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Definition of 'Law of Supply'
Definition: Law of supply states that other factors remaining constant, price and quantity supplied of a good are directly related to each other. In other words, when the price paid by buyers for a good rises, then suppliers increase the supply of that good in the market
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