(PPF) PRODUCTION POSSIBILITY FRONTIES Flashcards
1
Q
What does PPF stand for?
A
Production Possibility Frontiers.
2
Q
PPF show alternative ……
A
Combinations of 2 goods or services
E.g relationship of flour and pizza
3
Q
If both goods are on the curve it’s a…..
A
Efficient output combination
4
Q
If any of the goods/services are off the curve
A
They are being used inefficiently.
