Question

Discuss the problem of choice of products with the help of Production Possibility Curve

Answer 1

Answer:

It is a curve which shows various production possibilities with the help of given limited resources and technology. It is also known as Production Possibility Frontier and transformation curve.

Explanation:

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Answer 2

The problem of choice of products with the help of Production Possibility Curve is explained by the opportunity cost.

Explanation:

• The PPC curve is used to show the trade-off associated with the allocation of resources between the two goods. PPC is used to the concept of scarcity and opportunity costs.

• If there is no increase in the production of resources then the increase in the production of the first resource will lead to a decrease in the production of the other good.

• Due to the resource will be transferred to the first and then to the second. The sacrificing in the production of the second good.

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• brainly.in/question/18321171 answered by Radhika2841.