A production possibilities curve shows the various combinations of two outputs that:
a. consumers would like to consume.
b. producers would like to produce.
c. an economy can produce.
d. an economy should produce.
In the production process and economics, production refers to the addition of values to inputs so that they will transform into a final product that is suitable for consumption by consumers.
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fromChapter 11 / Lesson 28
Understand what the production possibilities curve is, and learn how to construct and interpret a production possibilities curve along with the example.