Please give a broad definition of “production possibilities
curve†and explain the sources of economic growth...
90.2K
Verified Solution
Link Copied!
Question
Economics
Please give a broad definition of “production possibilitiescurve†and explain the sources of economic growth that shiftproduction possibilities curve. (You are expected to give adetailed explanation and examples, but you don’t need to drawdiagrams).
Answer & Explanation
Solved by verified expert
4.0 Ratings (590 Votes)
Production possibility frontier is the graph which indicates the various production possibilities of two commodities when resources are fixed The production of one commodity can only be increased by sacrificing the production of the other commodity It is also called the production
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
