Can anyone please clearly explain production possibility curve?

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A production possibility frontier (PPF ) show the maximum possible output combination of two goods or services an economy can achieve when all resources are fully and effectively employed

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Refers graphical representation of all the possible combination of two good which can be produced with given resources and technology

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PPC shows the alternative uses of two goods giving same level of satisfaction with the given resources and technology used.

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It is the curve showing alternative production possibilities of two goods with given resources and technique of production.

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PPC (production possibility curve) means production possibility of..two goods with ..the given use of..resources and ...knowledge

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PPC is a curve showing different possible combination of two foods.

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It's a curve which depicts all the possible combinations of the production of 2 goods in an economy. It's assumed that the resources are given, given resources are fully and efficiently utilized and there's no change in technology.

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Ppc is the graphical presentation of pp schedule it is a downward sloping curve ,concave to origin, which shows all possible combinations of two goods with given resources n constant technology

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Production possibility curves is the combination of two good when the production of one good is increase than product of another goods are decreased due to limited resources

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Here, when we start a business we will invest money. We can surely can't say that there is a only profit.
Here, business contains loses and by some additional payments there will be a profit.
Here surely. We can't say that we get only profit or loss.
In the business there is combination of profit and loss

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PPC shows us alternative combination of two goods that can be produced by given technology and given resources/ techniques of production
it is also called PP frontier/ PP boundary because it shows us the limit of what is possible to w with given resources and technology,,

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Lt refers to the graphical presentation of two goods that can be produced from the given resources

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PPC called Production possibility Curve is graphic representation of all possible combinations of two goods which can be produced with assumptions that resources are fully and effectively utilized nd state of technology remains constant.

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PPC is a curve which depicts all possible combination of goods with the help of given technology and full employment of resources

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Ppc means combination of given goods of two commodities that is  x and y with knowledge and alternative use of resources and  to achieve higher level of output

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It is  graphical representations of alternative combination of two goods that can be produced with the given resources and technology.

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PPC it shows the maximum possibility of two good which can be produced in given amount of capital(@ limited capital)

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It is a graphical representation of production of combination of the two goods... with technology and resources will remain the same

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Production possibility curve us a curve showing production of two goods in the economy with given resources and technology.

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Production Possibility Curve (PPC)

The production possibility curve (PPC), also known as the production possibility frontier (PPF), is a graphical representation that illustrates the different combinations of two goods or services that can be produced using available resources and technology. It shows the maximum output that can be obtained by an economy, given its limited resources and technology.

Key Points:
- The PPC assumes that resources are fully utilized and allocated efficiently.
- It implies that to produce more of one good, a society must sacrifice the production of another good.
- The PPC is a negative slope curve, indicating the trade-off between producing different goods.
- The shape of the curve can be linear or bowed-out, depending on the concept of opportunity cost.

Opportunity Cost:
Opportunity cost refers to the value of the next best alternative that is forgone when making a choice. It is a fundamental concept in economics and is illustrated by the PPC. As an economy moves from one point on the PPC to another, there is a trade-off involved. The resources allocated to producing one good could have been used to produce the other good. The opportunity cost represents the quantity of the other good that must be given up to produce an additional unit of the chosen good.

Efficiency:
The PPC demonstrates the concept of efficiency in production. Points on the curve represent efficient utilization of resources, while points inside the curve indicate underutilization or inefficiency. Points beyond the curve are unattainable given the current resources and technology.

Shifts in the PPC:
The PPC can shift due to changes in resources, technology, or the quality of resources. These shifts can be represented as:
1. Outward Shift: An increase in resources or technological advancements can lead to an outward shift of the PPC, indicating an increase in the economy's production capacity.
2. Inward Shift: A decrease in resources or a decline in technology can cause an inward shift of the PPC, showing a decrease in the economy's production capacity.

Factors Affecting the Shape of the PPC:
The shape of the PPC can provide insights into an economy's opportunity cost and resource allocation. It can be:
1. Linear: In cases where resources are easily adaptable between the production of two goods, the PPC can be linear, indicating a constant opportunity cost.
2. Bowed-out: When resources are not equally efficient in producing both goods, the PPC is bowed-out, indicating increasing opportunity costs. This implies that as more of one good is produced, the opportunity cost of producing an additional unit increases.

In conclusion, the production possibility curve is a graphical tool that showcases the trade-offs, opportunity costs, and efficiency in production faced by an economy. It helps in understanding the concept of scarcity and the need to make choices in resource allocation.

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