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16 December, 08:35

The downward slope of the production possibilities curve illustrates the:

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  1. 16 December, 08:46
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    A production possibilities curve is a curve that shows the combinations of two goods that an economy can produce with given resources. The downward slope of a production possibilities curve is an implication of scarcity (scarcity principle). The bowed out shape on the other hand, results from the allocation of resources based on comparative advantage.
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