Q. Which of these statement is true about production possibility curve (PPC/PPF) (Solved)
1. It shows various combinations of two goods which yield same level of satisfaction
2. It shows various combination of two goods which an economy can produce with a given amount of resources
3. It shows various combination of two goods which an economy can produce with a given budget
4. It shows various combination of two goods which an economy can produce with a given time
- b. It shows various combination of two goods which an economy can produce with a given amount of resources