Question : The other name of Production Possibility Curve is _____________.
Option 1: Production Possibility Boundary
Option 2: Transformation Curve
Option 3: Transformation Boundary
Option 4: All of the above
Correct Answer: All of the above
Solution : The graphic representation of potential pairings of two items that can be produced given certain resources and technology is called a production possibility curve. Hence, the correct option is 4.
Question : Production Possibility Curve (PPC) is concave shaped because
Question : The curve gives the maximum amount of corn produced in the economy for any given amount of cotton and vice-versa. This curve is called the _____.
Question : Assumptions for Production Possibility Curve is/are:
Question : Name the vital processes of an economy.
Question : The other name of microeconomics is _____________
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