Question

What is a production possibility curve? With the help of a production possibility curve, explain growth of resources'?

Answer 1

A production possibility curve measures the maximum output of two goods using a fixed amount of input. The input is any combination of the four factors of production. ... Each point on the curve shows how much of each good will be produced when resources shift from making more of one good and less of the other.

Answer 2

Explanation:

➡️ A production possibility curve measures the maximum output of two goods using a fixed amount of input.Each point on the curve shows how much of each good will be produced when resources shift from making more of one good and less of the other. The curve measures the trade-off between producing one good versus another.