WebbThe production possibility curve is also called transformation curve, because when we move from one position to another, we are really transforming one good into another by … WebbWhat is an Indifference Curve? An indifference curve is a curve that represents all the combinations of goods that give the same satisfaction to the consumer. Since all the combinations give the same amount of satisfaction, the consumer prefers them equally. Hence the name indifference curve.

Economic Growth

WebbThe production possibilities curve (PPC) is an analytical tool which is used to illustrate and explain the problem of choice. Production possibilities curve is also known as … WebbThe production possibility curve is also called transformation curve, because when we move from one position to another, we are really transforming one good into another by … greetings for phone messages

The PPF: Underemployment, Economic Expansion and Growth

Webb24 mars 2016 · Explanation: PPC (Production Possibility Curve) is also called opportunity cost curve. PPC resembles combination of goods and services which is produced with … WebbWe will generally draw production possibilities curves for the economy as smooth, bowed-out curves, like the one in Panel (b). This production possibilities curve shows an … WebbB. The production possibilities curve provides information on technical efficiency – that is, the maximum number of goods and services that can be produced with the given resources. It does not tell us which of these … greetings for presentation in class