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1 February, 06:37

The production possibilities curve illustrates the basic principle that

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  1. 1 February, 07:21
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    If all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced

    Explanation:

    The concept of production possibility curve shows the different commodities that can be produced in a given economy, given the prevailing level of technology, if all available resources are efficiently utilized. The idea behind production possibility curve is that in other for in order to produce a particular commodity, the production of another commodity has to be scarified provided that i. e if all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced
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