Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Microeconomics > Production possibility frontiers > Flashcards

Production possibility frontiers Flashcards

1
Q

What is a production possibility frontier?

A

A production possibility frontier (PPF) is a curve which shows the maximum possible output combinations of two goods or services an economy can achieve when using all available factors of production efficiently.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q
A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly

Microeconomics (19 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions