1. A production possibilities curve shows how well an economy is using available resources and technology during production. A production-possibility frontier is a constraint in some ways analogous to a budget constraint, showing limitations on a country's production of multiple goods based on the limitation of available factors of production.Under autarky this is also the limitation of consumption by individuals in the country. PPC, PPF, production possibility curve, features, characteristics and Assumption of PPC, scarcity is the mother of all economic problems Production Possibility Curve its features or properties or characteristics, Assumptions etc. Production Possibilities 1.3 Trade offs and opportunity costs can be illustrated using a Production Possibilities Curve. Maximum efficiency. The curve which shows the combinations of two goods and services that can be produced with fuller utilisation of a given amount of resources in the most efficient way and with a given production technology is called Production Possibility Curve. Thus, any point on the curve is not only a full-employment point but also an efficient point. PPF slopes downwards: PPF shows all the maximum possible combination of two goods, which can be … Concave to the origin: This is since the marginal rate of transformation rises as more of … Verified . Answer:The two basic characteristics or features of PPF are: 1. It describes all the possible combinations of any two commodities that can be produced by an economic system by using all resources with maximum possible efficiency. Given 2 assumptions: 1. PPC—shows all the possible combinations of 2 goods or services. The Production Possibility Curve (PPC) A PPC shows all the combinations of two ‘goods’ which can be provided if all resources are being used efficiently Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. It illustrates the options an economy has when producing two products. economics online class, 12th economics notes, economics times, economics class 12, macroeconomics, economics online notes, introduction to economics, introduction to micro economics, central problems, problems of economy, microeconomics,types of economies, economics notes in hindi, उत्पादन सम्भावना वक्र, production possibility curve, economics on your tips This video is highly rated by Class 12 students and has been viewed 2041 times. PowerPoint slide on Properties Of Production Possibility Curve (PPC) -ECONOMICS compiled by Vijay Gupta. The focus of all such, points is the production possibilities curve (PPC) of society. There are two main properties of production possibilities curve. Fixed resources 2. Downward sloping: This is since as more quantity of one good produced few quantity of the other good which must be sacrificed.. 2. - Tips 4 Economics It is also known as Production Possibility Frontier (or PPF) and Transformation Curve. Nov 11, 2020 - Properties of Production Possibility Curve (PPC).. Class 12 Video | EduRev is made by best teachers of Class 12.
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