PPG
- PPG'S- Production Possibilities Graph: Alternative way to use a resource
- PPC- Curve
- PPF- Frontier
- Inside the curve: Point A- Recession, unemployment, Underemployment
- On the curve: Point D
- Outside the curve: Point X- Economic growth, technology
- Point A- Attainable but Inefficient
- Point D- Attainable and Efficient
- Point X- unattainable
- Key Assumptions
- Two goods are produced
- Fixed resources
- Fixed Technology
- Full Employment : 4 to 5% unemployment
- No International Trade
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