Question

Q. State all the assumptions on which a Production Possibility Curve is drawn.
Class 11 Economics

Answer 1

Answer:

the 4 key assumptions underlying production possibilities analysis are:

1: resources are used to produce one or both of only two goods 2: the quantities of the resources do not change 3;techonology and production techniques do not change and 4:resources are used in a techically efficient way.

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