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Learn about opportunity cost and production possibilities curve in this lesson summary from Khan Academy.
A production possibilities curve in economics measures the maximum output of two goods using a fixed amount of input. The input is any combination of the four factors of production: natural resources (including land), labor, capital goods, and entrepreneurship.
In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.
A production possibilities frontier (PPF)—also known as a production possibilities curve (PPC)—is a graph showing combinations of two outputs that can be produced when both are made using the same finite, or scarce, resources.
The production possibilities curve (PPC) is a graph that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the production possibilities frontier (PPF), the PPC illustrates scarcity and tradeoffs.
The production possibilities curve (PPC) is a graph that shows all combinations of two goods or categories of goods an economy can produce with fixed resources. Take the example illustrated in the chart.
The production possibility frontier (PPF) is a curve on a graph that illustrates the possible quantities that can be produced of two products if both depend upon the same finite...
A production possibilities curve is a graphical representation of the alternative combinations of goods and services an economy can produce. It illustrates the production possibilities model.
Definition and diagrams of production possibility frontiers (PPF) Illustrating opportunity cost, economic growth, Pareto efficiency and impact of investment in capital goods.
The production possibilities frontier (PPF for short, also referred to as production possibilities curve) is a simple way to show these production tradeoffs graphically. Here is a guide to graphing a PPF and how to analyze it.