Question

What is Production possibility curve?

Answer 1

production possibility curve (PPC) is a curve which shows various combinations of set of two goods which can be produced with the given resources and technology where the given resources are fully and efficiently utilized per unit time. One good can only be produced by diverting resources from other goods, and so by producing less of them. This tradeoff is usually considered for an economy, but also applies to each individual, household, and economic organization.
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Answer 2

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$\textsf{\pink{Q.}}$ What is Production possibility curve?

$\textsf{\pink{Ans.}}$ The production possibility curves also known as production possibility frontier 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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