Production possibility curve,
Definition of Production possibility curve:
A pictorial representation of an alternative set of quantities of two goods or services that an economy can create by transferring resources from one good or service to another. This curve helps determine the quantity of non-essential goods or services that the economy can afford without sacrificing the necessary performance of essential goods or services. It is also known as the curves of change.
How to use Production possibility curve in a sentence?
- You just have to be more discriminating with the help you render toward other people.
- Are you using the Product Probability Curve to determine how the production of my small ponytails will affect the main line of our bags?
- Let us see this. The production opportunity was to see what was going on in our store and how to fix it.
Meaning of Production possibility curve & Production possibility curve Definition