Question

define production possibility curve. Explain why it is downward sloping form left to right.

Answer 1

PPC refers to graphical representation of possible combinations of two goods that can be produced with given resources and technology

It is a downward sloping from left to right because in a situation of fuller utilisation of resources, production of both the goods cannot be increased together. More of good X can be produced only with less of good Y as resources are scarce

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