Explaine PPC (Production possibility curve) class 11th economics..........
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PPC (Production possibility curve)
Production Possibility Curve (PPC) also known as Production Possibility Frontier (PPF) is a graphical representation of all the possibile combinations of two goods that can be produced in an economy given the available resources and technology.
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firstly, ppc is downward sloping because of limited and fixed resources. if we want to increase production for good x we have to sacrifice some units of good y.
secondly, ppc is concave to the point of origin because of increasing or rising marginal opportunity cost (MOC) or marginal rate of transformation(MRT).
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