Yes, they do.
The PPF is bowed outwards (concave to the origin) as tradeoffs between the production of any two goods are constant.
Assumptions to determine the PPC is:only 2 goods will be illustratedthe amount of resources is fixedstate of technology is constant
Because when one produces one product, the opportunity cost of the other product increases i.e. the concave represents the increasing opportunity cost with the production of a good.
other names for production possibility curve are: production possibility boundary production possibility frontier transformation curve.
production possibilities curve convex to the origin. Elson Mendoza was here.
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
it really good
yes
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
Any point on the PPC curve
A point that lies outside a country's production possibilities curve means that the country is not able to produce. The possibility curve shows how a country can efficiently produce.
shift outward
Attainable, but the economy is inefficient.
Yes, they do.
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.
Movement along a production possibilities curve would imply that society has chosen a different set/amount of input for the two products/services represented in the graph.