Opportunity cost & the production possibilities curve …
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. For example, suppose Carmen splits her time as a carpenter between making tables and building bookshelves.
DA: 56 PA: 75 MOZ Rank: 23