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MICROECONOMICS CH : 2 CENTRAL PROBLEMS OF AN ECONOMY — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 2 CENTRAL PROBLEMS OF AN ECONOMY2 Marks
Question
What is meant by production possibility curve?
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Answer

Production possibility curve (or transformation curve) is a curve showing different possible combinations of a set of two goods which can be produced with the given resources and given technology.

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