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Understanding Production Possibilities

Production Possibilities Frontier

Production Possibilities Frontier

If production is efficient, the economy can choose between combinations on the PPF. Point X, however, is unattaible with existing resources and technology if trade does not occur.

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    "Production Possibilities Frontier Curve."
    https://en.wikipedia.org/wiki/File:Production_Possibilities_Frontier_Curve.svg Wikipedia CC BY-SA.

Related Terms

  • Autarky
  • Production possibilities frontier
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