Write short notes on production possibility curve

Production possibility curve (PPC) is the focus of combinations of two commodities whose production
fully and efficiently utilizes the available resources and technology in a given period of time. It shows the maximum output a country can produce with its present productive capacity of land, labor, capital and
entrepreneurial ability. It is also a graphical representation of the basic concepts of the discipline of
economics, that is, scarcity, choice and opportunity cost.

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Wilfykil answered the question on February 4, 2019 at 09:21