Question

Distinguish between attainable and non attainable combination of set of two goods

Answer 1

An attainable combination of a set of two goods is as follows:

It is resulted from resource allocation decisions which are made by deciding what to produce and in what quantity. Its the decisions regarding production of one good vs the production of another good.

By making more one type of good (for instance chocolate bars), production of another type of good (for instance toffees) will suffer.

It also describes scenarios where the production is inefficient. That one person could be making 10 chocolates and 5 toffees, but instead you only make 5 chocolates and 2 toffees (inefficient combination)

NON-attainable: This is the production of one good vs another which cannot be done. Because your productive capacity is limited due to the limited resources.

You want to make 20 chocolates and 15 toffees but you cannot due to lack of resources. So therefore, they are unattainable. So that shows relationship of opportunity cost and scarcity.

You may increase productive capacity, and shift your production possibility curve(which shows the two combination of goods), and that way you may achieve something unattainable in the short run.

Answer 2

Answer:

Here is a difference between attainable and non- attainable combination of set of two goods based on their meaning and features.

Explanation:

Attainable Goods

An attainable combination of two products is as follows:

• It is the outcome of resource allocation decisions, which are made by deciding what to create and how much to generate. It is the choice between producing one good versus producing another.
• By producing more of one sort of item (for example, chocolate bars), production of another type of good (for example, toffees) suffers.
• It also defines situations in which production is inefficient. That one person could produce ten chocolates and five toffees, but you only make five chocolates and two toffees (inefficient combination)

Non-attainable goods

This is the creation or in economic terms, we say production of one good versus another, which is impossible. Because your productive capacity is constrained by finite resources.

• You wish to produce 20 chocolates and 15 toffees but are unable to do so due to a lack of supplies. As a result, they are unattainable. That demonstrates the link between opportunity cost and scarcity.
• You can enhance productive capacity and modify your production potential curve (which depicts the two combinations of commodities), allowing you to achieve something that was previously unreachable in the near run.

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