The graph known as the production possibilities curve (PPC) illustrates all the possible output combinations that can be created using the available resources and technology. The PPC, also referred to as the production possibilities frontier (PPF), depicts scarcity and tradeoffs.
What is the production possibilities curve?The PPF is a curve that is based on data of two variables that represent resources between two goods, so the data can be changed to observe how factors like scarcity, growth, inefficiency and other factors can affect production.
Changes in the total number of production factors that are currently available or technological advancements may be the cause of an outward or inward shift in the PPF.
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