What is PPC in economics in simple words?
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What is PPC in economics in simple words?
Key terms. Term. Definition. production possibilities curve (PPC) (also called a production possibilities frontier) a graphical model that represents all of the different combinations of two goods that can be produced; the PPC captures scarcity of resources and opportunity costs.
What is PPC explain with diagram?
The production possibilities curve (PPC) is a graph that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the production possibilities frontier (PPF), the PPC illustrates scarcity and tradeoffs.
What do you mean by PPC in economics class 11?
Production possibility frontier or production possibility curve (PPC) PPC is a curve which shows all possible combinations of two set of goods that an economy can produce with available resources and given technology, assuming that all resources are fully and efficiently utilized.
What are the two types of PPC in economics?
The shape of a production possibility curve (PPC) reveals important information about the opportunity cost involved in producing two goods. When the PPC is convex (bowed in), opportunity costs are decreasing. …
How do you make a PPC?
How to set up a pay-per-click campaign
- Work out your goals.
- Decide where to advertise.
- Choose which keywords you want to bid on.
- Set your bids for different keywords and select your daily or monthly budget.
- Write your PPC advert and link to a relevant and persuasive landing page on your website.
What is PPC and its properties?
The two basic property of production possibility curve are: It slopes downward from left to right- Production possibility curve slopes downward because both the variables involve in the equation are inversely related as one increase then other one decreases and vice versa because the resources are constant.