What do you mean by the production possibilities of an economy?
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Production possibilities of an economy refer to different combinations of goods and services which an economy can produce from a given amount of resources and a given stock of technology.
Explanation:
In macroeconomics, the PPF is the point at which a country's economy is most efficiently producing its various goods and services and, therefore, allocating its resources in the best way possible.
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Production possibilities of an economy refer to different combinations of goods and services which an economy can produce from a given amount of resources and a given stock of technology.
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