Question

Use the economic Model (The Product Possibility Curve)
Time as Factor: Assume you have 18 hours in a day, decide whether
you will work or play.
Explain the same using graph paper. (Show the possibilities)

Answer 1

Answer:

Time as Factor: Assume you have 18 hours in a day, decide whether

you will work or play.

Explain the same using graph paper. (Show the possibilities)

Answer 2

Answer:

The Production Possibilities Curve (PPC) is a model used to show the tradeoffs associated with allocating resources between the production of two goods. The PPC can be used to illustrate the concepts of scarcity, opportunity cost, efficiency, inefficiency, economic growth, and contractions