For dairy production each farmer is given a quota, where they must reach the amount of quota before the year is over. Under production means that they were under their needed quota, whereas over production means that they were over their allotted quota.
Hope that this helps!
Chat with our AI personalities
Production of aircraft
Under.
the seminal vesicles
Basically the PPC represents the hypothetical amount of two different goods that could be obtained by using resources from the production of one for the production of the other. It also describes society's choice between two different goods. When a point is on the curve it means all the resources for those goods is at full employment, anything under the curve is at under-employment, and anything beyond the curve indicates potential growth.
Under a cloud