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Production-Possibility Frontier
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High Quality Content by WIKIPEDIA articles! In economics, a production-possibility frontier (PPF) or "transformation curve" is a graph that shows the different rates of production of two goods that an individual or group can efficiently produce with limited productive resources. The PPF shows the maximum obtainable amount of one commodity for any given amount of another commodity or composite of all other commodities, given the society's technology and the amount of factors of production available. Any given PPF can be used to illustrate a number of economic concepts, such as opportunity cost, productive efficiency and marginal rate of transformation. Though they are normally concave, PPFs can also be linear (straight) or convex, depending on a number of factors. When an economy grows or shrinks, its PPF will expand (more can be produced) or contract (less can be produced).
Weitere Informationen
- Allgemeine Informationen
- GTIN 09786130487430
- Editor Lambert M. Surhone, Miriam T. Timpledon, Susan F. Marseken
- EAN 9786130487430
- Format Fachbuch
- Titel Production-Possibility Frontier
- Herausgeber Betascript Publishing
- Anzahl Seiten 68
- Genre Wirtschaft
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