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Basically the PPC represents the hypothetical amount of two different goods that could be obtained by using resources from the production of one for the production of the other. It also describes society's choice between two different goods. When a point is on the curve it means all the resources for those goods is at full employment, anything under the curve is at under-employment, and anything beyond the curve indicates potential growth.
What else can I help you with?
When charted on a graph Production possibilities frontiers tend to curve?
Yes, they do.
Production possibilities frontiers curve when they are charted on a graph because they show?
the increasing costs resulting in increasingly less output
What is the concept of the production possibilities?
Production possibilities is the extent of production in businesses. Production possibilities can change if resources increase within a business. Increasing labor can also change production possibilities.
Where would a point of underutilization appear on a product possibilities graph?
below or to the left of the production possibilities frontier
What line that shows different production possibilities for an economy?
production possibilities frontier
What tool helps a producer set up an efficient system of production?
a production possibilities frontier graph
Where would a point of underutilization appear on a production possibilities?
below or to the left of the production possibilities frontier
Where would a point of under utilization appear on a production possibilities?
below or to the left of the production possibilities frontier
What tool helps producers set up an efficient system of production?
a production possibilities frontier graph
What is a production possibilities graph?
production possibilities graph is a graph that shows alternative ways to use an economy's resources.
Where would a point of under utilization appear on a production possibilities graph?
below or to the left of the production possibilities frontier
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
