120k views
5 votes
The production of First Pair Part makes (FPP) Second Pair Part relevant (SPP)?

1 Answer

6 votes

Final answer:

The production possibilities frontier (PPF) in economics represents the maximum output combinations of two goods that a country can produce given its resources. When producing the first pair part (FPP), it can make the second pair part (SPP) relevant because it shows the tradeoff between producing more of one good and producing less of the other.

Step-by-step explanation:

In economics, the production possibilities frontier (PPF) represents the maximum output combinations of two goods that a country can produce given its resources. When producing the first pair part (FPP), it can make the second pair part (SPP) relevant because it shows the tradeoff between producing more of one good and producing less of the other. The PPF illustrates the concept of opportunity cost, which is the value of the next best alternative foregone when making a choice.

User Yusuf X
by
7.8k points