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  2. Production–possibility frontier - Wikipedia

    en.wikipedia.org/wiki/Productionpossibility...

    In microeconomics, a productionpossibility 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.

  3. Cobb–Douglas production function - Wikipedia

    en.wikipedia.org/wiki/Cobb–Douglas_production...

    Wire-grid Cobb–Douglas production surface with isoquants A two-input Cobb–Douglas production function with isoquants. In economics and econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent the technological relationship between the amounts of two or more inputs (particularly physical capital and labor) and ...

  4. Productive efficiency - Wikipedia

    en.wikipedia.org/wiki/Productive_efficiency

    Productive inefficiency, with the economy operating below its production possibilities frontier, can occur because the productive inputs physical capital and labor are underutilized—that is, some capital or labor is left sitting idle—or because these inputs are allocated in inappropriate combinations to the different industries that use them.

  5. Robinson Crusoe economy - Wikipedia

    en.wikipedia.org/wiki/Robinson_Crusoe_economy

    Figure 6: Production possibilities set in the Robinson Crusoe economy with two commodities. The boundary of the production possibilities set is known as the production-possibility frontier (PPF). [9] This curve measures the feasible outputs that Crusoe can produce, with a fixed technological constraint and given amount of resources.

  6. Guns versus butter model - Wikipedia

    en.wikipedia.org/wiki/Guns_versus_butter_model

    The production possibilities frontier (PPF) for guns versus butter. Points like X that are outside the PPF are impossible to achieve. Points such as B, C, and D illustrate the trade-off between guns and butter: at these levels of production, producing more of one requires producing less of the other. Points located along the PPF curve represent ...

  7. Productive capacity - Wikipedia

    en.wikipedia.org/wiki/Productive_capacity

    Productive capacity has a lot in common with a production possibility frontier (PPF) that is an answer to the question what the maximum production capacity of a certain economy is which means using as many economy’s resources to make the output as possible. In a standard PPF graph, two types of goods’ quantities are set.

  8. Pareto front - Wikipedia

    en.wikipedia.org/wiki/Pareto_front

    Point C is not on the Pareto frontier because it is dominated by both point A and point B. Points A and B are not strictly dominated by any other, and hence lie on the frontier. A production-possibility frontier. The red line is an example of a Pareto-efficient frontier, where the frontier and the area left and below it are a continuous set of ...

  9. Heckscher–Ohlin theorem - Wikipedia

    en.wikipedia.org/wiki/Heckscher–Ohlin_theorem

    Trade equilibrium: both countries consume the same (=), especially beyond their own Productionpossibility frontier; production and consumption points are divergent. The Heckscher–Ohlin theorem is one of the four critical theorems of the Heckscher–Ohlin model , developed by Swedish economist Eli Heckscher and Bertil Ohlin (his student).