Production possibility frontiers
The production-possibilities curve/frontier describes the concept of opportunity cost at several levels we will start by looking at an orchard. Definition: production possibility frontier is the graph which indicates the various production possibilities of two commodities when resources are fixed the production of one commodity can only be increased by sacrificing the production of the other commodity it is also called the production possibility curve or product transformation.
A production possibility frontier (ppf) shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently employed opportunity cost and the ppf.
The production possibility frontier (ppf) is a curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors the ppf assumes that all inputs are used efficiently.
A production–possibility frontier (ppf) or production possibility curve (ppc) is the possible tradeoff of producing combinations of goods with constant technology and resources per unit time one good can only be produced by diverting resources from other goods, and so by producing less of them.
These are all points on you, as a hunter gatherer, on your production possibilities frontier because if we draw a line-- i just arbitrarily picked these scenarios. How can the answer be improved. Production possibility frontier definition ppf a curve that compares the trade offs between two goods produced by an economy in order to demonstrate the efficient use of resources points along the curve are considered efficient and obtainable, and show the maximum amount of one good that can be produced in relation to another. Production possibility frontier (ppf) in the field of macroeconomics, the production possibility frontier (ppf) represents the point at which a country’s economy is most efficiently producing its goods and services and, therefore, allocating its resources in the best way possible.