Production Possibilities Curve
Published on Nov 18, 2015
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PRODUCTION POSSIBILITIES CURVE
JOSHUA YATES
Production Possibilities Curve,or graph, shows alternative ways to use an economy's resources.
In economics, people use graphs to help us see how one value relates to another value.
The axes of the graph can show categories of goods and services, such as farm goods and factory goods or capital goods and consumer goods.
The axes could also display any pair of specific goods or services, such as hats on one axis and shoes on the other.
Photo by sneeu
Why? - In the economy, If the resources are not very effective, company's will find the best way to use these resources with the best possible outcomes.
Photo by Leonard John Matthews
Example: if a company's resources of dr.pepper are being put to waste, the company will hold a meeting to figure out alternative ways to use dr. Pepper better for better financial growth.
Photo by anyjazz65
