Question

Show these data graphically. Instructions: Use the tool provided 'PPC' to draw a PPC curve (plot 5 points total). Tools: Upon what specific assumptions is this production possibilities curve based?"

Answer 1

The Production Possibilities Curve (PPC) is a graphical representation of the alternative combinations of goods and services an economy can produce based on limited resources and fixed technology.

Step-by-step explanation:

The Production Possibilities Curve (PPC) is a graphical representation of the alternative combinations of goods and services an economy can produce. It shows the maximum attainable combinations of two goods given the limited resources and fixed technology of an economy. The PPC is based on the assumptions that an economy's factors of production are scarce, production is efficient, and technology is fixed.