| 0455 IGCSE ECONOMICS
PAPER-2-TOPIC-1-BASIC ECONOMIC PROBLEM-TOPIC WISE PAST PAPERS / PAPER-2-PRODUTION POSSIBILITY CURVE
  • 1.4-Production-possibility-curve-Set-1-2-qp-ms.pdf
  • 1.4-Production-possibility-curve-Set-3-4-qp-ms.pdf
  • 1.4-Production-possibility-curve-Set-5-6-qp-ms.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 combination of the factors of production can be used

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 of the PPC, then it implies that   all of the resources are not being used. 

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