I was making notes for all the terminologies and their definitions from class 12th Macroeconomics. So that I can prepare chapter-wise. This question I found an introduction. That is chapter 1 in macroeconomics. Does anyone found its answer?
Is there anyone who found the answer for the question – What is a production possibility frontier?
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A production possibility frontier indicates the maximum limit or frontier of different possible combinations of two goods. That can be produced with available resources and technology.
Example – A economy which produce Tea and Sugar. With the best combination allocation of resource. They can produce highest yield. To achieve these level they will try different combination called Production Possibility Frontier.