BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The Production Possibilities Curve (PPC) is a model used to show the tradeoffs associated with allocating resources between the production of two goods. The PPC can be used to illustrate the concepts of scarcity, opportunity cost, efficiency, inefficiency, economic growth, and contractions.

Detailed explanation-2: -The production possibilities curve (PPC) is a graph that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the production possibilities frontier (PPF), the PPC illustrates scarcity and tradeoffs.

Detailed explanation-3: -A production possibilities frontier, or PPF, defines the set of possible combinations of goods and services a society can produce given the resources available.

Detailed explanation-4: -The production possibilities curve (PPC) illustrates tradeoffs and opportunity costs when producing two goods. We can use the PPC to illustrate: Scarcity. Efficiency.

Detailed explanation-5: -In economics, the Production Possibility Curve (PPC) depicts the maximum output combinations of two goods that are produced in the economy when all resources are employed fully and efficiently. This curve helps economists to illustrate different features such as scarcity, opportunity costs, and economic growth.