12th Class Economics Solved Paper - Economics 2017 Delhi Set-I

  • question_answer
    State the meaning and properties of production possibilities frontier.


    Production possibilities Frontier refers to the frontier which shows the production combination of commodities by available resources and techniques.
                Properties of production possibilities frontier:
    (a) Concave to the origin: PPF is concave to the origin as to increase one additional unit of output, more and more units of another good is sacrificed.
    (b) Downward sloping from left to right: PPF is downward sloping from left to right because more and more units of good are sacrificed to gain one additional unit of another good.

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