Question

5. Now create your production possibilities curve, based on the information in the table you just filled out. Use the chart shown as a model, but note that your numbers and your curve will be different. Depending on the numbers you wrote in your table, your "curve" may even look more like a slant. (2 points)

Answer 1

Two units—blankets and socks—are depicted in the production possibilities curve model. However, in relation to another illustration, coffee and sugar.

What is  production possibilities curve?

A production possibility curve essentially depicts two items graphically. The "production possibility frontier" is another name for PPC.

Underutilization of resources and technology is demonstrated by the production possibilities curve model. One unit is added while another is sacrificed on the production possibilities curve. Levels are displayed at various places.

The PPC is a useful tool for demonstrating the ideas of scarcity, opportunity cost, efficiency, and economic development and contraction. The downward slope of the concave shaped.

As a result, production possibility curve model is two different commodities such as sugar and coffee.

Learn more about on production possibility curve, here:

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