A Trade Possibility Curve (TPC) illustrates the maximum combinations of goods and services that a country can consume
Tag: PPC
comparative advantage
Comparative advantage exists when a country or entity can produce a particular good or service at a lower
potential growth
Potential growth is the sustainable, long-run increase in an economy’s maximum output capacity, driven by improvements in the
production possibility curve
A PPC shows an economy’s maximum output of two goods when using all of its resources.
Unlocking Production Possibility Curves: Why Economies Face Tough Choices
What is a Production Possibility Curve? Imagine trying to juggle work, fun, and sleep all at once—spoiler alert,
CAIE AS Level Economics: Scarcity, PPCs and Resource Allocation
CAIE AS Level Economics: Scarcity, PPCs and Resource Allocation Scarcity, Choice and Opportunity Cost – Read the full