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.
Yes, they do.
the increasing costs resulting in increasingly less output
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.
below or to the left of the production possibilities frontier
production possibilities frontier
a production possibilities frontier graph
below or to the left of the production possibilities frontier
below or to the left of the production possibilities frontier
a production possibilities frontier graph
production possibilities graph is a graph that shows alternative ways to use an economy's resources.
below or to the left of the 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.