Explaine PPC (Production possibility curve) class 11th economics..........
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The production possibility curves is a hypothetical representation of the amount of two different goods that can be obtained by shifting resources from the production of one, to the production of the other. The curve is used to describe a society's choice between two different goods.
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Hello!!
Production possibility frontier(PPF) :
It is a curve depicting all maximum output possibilities for two goods.
- It is given on a set of inputs.
- It consist of resources and other factors.
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