| 0455 IGCSE ECONOMICS
PAPER-2-TOPIC-1-BASIC ECONOMIC PROBLEM-TOPIC WISE PAST PAPERS / PAPER-2-PRODUTION POSSIBILITY CURVE
  • 1.4.1-Production possibility curve dagrams-ms.pdf
  • 1.4.1-Production possibility curve dagrams-qp.pdf
  • 1.4.2-Production possibility curve dagrams-ms.pdf
  • 1.4.2-Production possibility curve dagrams-qp.pdf
  • 1.4.3-Production possibility curve dagrams-ms.pdf
  • 1.4.3-Production possibility curve dagrams-qp.pdf
Note:

What is production possibility curve?

A production possibility curve is a graphical representation . of  the maximum output of two goods using a fixed amount of input. Any  combinations of the four factors of production can be used  as the input.

Production Possibility Frontier

The production possibility curve (PPC) represents  the cost of  a society's choice between two different goods. The economy is said to have the highest standard of living if it operates at the frontier because it is producing as much as it can using the resources. 

In case of a point being present  inside the curve on the PPC,then it implies that   all of the resources are not being used. 

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