Question

what is meant by a properly labelled production possibility frontier, distinguish between maximum
attainable combinations, attainable but inefficient combinations of the production of rice
and maize

Answer 1

Answer:

The production possibilities curve (PPC) is a graph that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the production possibilities frontier (PPF), the PPC illustrates scarcity and tradeoffs.