https://blog.dlow.me/tags/shower-thoughts/Recent content in Shower-Thoughts on dlow's blogHugoen-usTue, 03 Jul 2018 09:14:57 +0100https://blog.dlow.me/everything/life-and-production-possibility-curve/Tue, 03 Jul 2018 09:14:57 +0100https://blog.dlow.me/everything/life-and-production-possibility-curve/<p>In economics, the production possibility curve (PPC) reflects scarcity, choice and opportunity cost. Suppose there are two goods produced, the curve shows the combination of the two goods that can be produced when the resources are fully employed. The curve isn&rsquo;t static - technological improvements can shift the curve outwards. A point below or on the curve represents the current state of production. A point outside of the curve indicates an impossible production state.</p>