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production possibilities frontier
a curve that indicates the combinations of any two goods that are attainable when available resources are fully and efficiently employed
purpose of the PPC
illustrates the concepts of scarcity, choice and opportunity cost
attainable and efficient output combinations
output combinations that are found on the PPF
unattainable output combinations
output combinations that are found to the right of the PPF
inefficient output combinations
output combinations that are found to the left of the PPC
PPF illustrates scarcity
output combinations that are found to the right of the PPF are unattainable due to there being too few resources
PPC illustrates choice
the existence of the PPF indicates a need to choose among the available combinations along the curve
PPC illustrates opportunity cost
the negative slope of the PPC indicates that more of good B can be obtained only by sacrificing some output of good A
understanding opportunity cost
it is not what is gained when a choice is made, but what was given up when a choice was made
swivel movement of the PPC
improvement in technology or productivity in the production of one of the two outputs in the PPC
outward shift of the PPC
illustrates economic growth
Note 
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