What do you mean by Production possibility curve in Economics
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➡️The production possibility Frontier (ppf) is a curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors. The ppf assumes that all inputs are used efficiently.
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Explanation:
An economy that is operating on the PPF is said to be efficient, meaning that it would be impossible to produce more of one good without ...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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