Explain PPC and how it relates with economic concepts by hafisah yaakob https://padlet.com/hafisah1981/ridlrjlf5spe please answer by your own idea by referring notes en-us 2017-09-21 03:34:00 UTC 2023-01-28 15:41:49 UTC hello@padlet.com https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189656311 2017-09-21 09:12:07 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189656311 Hai my name is Nuraishah Amalin Bt Mohd Fadheli. I'm from class am1102f https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189658625 Production possibility curve (PPC) Is a curve that shows various combinations of two goods that the economy can produce given limited amount of resources and certain level of technology. 

Assumptions in contructing PPC

i) only two goods can be produced
- for example books and phone

ii) The resources available are fixed in term quantity and quality. 

iii) the technology used is fixed. 

iv) Full employment of resources and productive efficiency. 

There are three types and shape of PPC. 

1.increasing opportunity cost (concave) 
-To produce One more unit of good Y, we need to let go more and more unit of good x. 

2. Decreasing opportunity cost (convex)
- to produce one more unit of good y, we need to let go less and less unit of good x.

3. Constant opportunity cost
(linear) 
- to product one more unit of good y, We need to let go constant number of good x. 

And we have 3 basic economic concepts. 

Scarcity is defined as the resources available are not enough to meet all wants. In other words scarcity is human unlimited wants. 

Because of the scarcity and the limited resources that we faced. We have to make a choice. Choice can be defined as making comparison among the existing alternatives.

After we make a choice. Then the other that not be choosen will be opportunity cost. Opportunity cost is something that you need to let go in order to get something else. In the other words second best alternative forgone once choice is made. ]]> 2017-09-21 09:21:43 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189658625 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189660555 Hi. My name is Nabilah bt Abd Khalil. I'm from class AM1102F]]> 2017-09-21 09:29:19 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189660555 hello. My name is Nur Yasmin Nisha Bt Abu Zahri from AM1102F. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189661013 A Production Possibilities Curve (PPC) is a graphical representation of the alternative combination of goods and services an economy can produce. It illustrates the production possibilities model. in drawing the production possibilities curve, we shall assume that the economy can produce only two goods and that the quantities of factors of production and the technology available to the economy are fixed.

There are four assumptions in constructing PPC:
i) Only two goods can be produced
-The economy can only produced two goods. For example, chocolate and table.

ii) The resources available are fixed in term of quantity and quality.
-Resources used in the production are fixed in terms of their number and quality.

iii) The technology used is fixed.
-The level of technology does not change during the analysis.

iv) The employment of resources and productive efficiency.
-The economy is fully utilizing the resources at minimum cost.
 
There are three types of Production Possibilities Curve(PPC)

i) Increasing opportunities cost.
-To produce more unit of table, the units of chocolate that have to be forgone increase from 2 to 3,4 and 5. The shape of PPC is concave.

ii)Decreasing opportunities cost.
-To produce more unit of table, the units of chocolate forgone decrease from 5 to 4,3 and 2. The shape of PPC is convex.

iii)Constant opportunities cost.
-To produce more units of table, the units of chocolate forgone do not change, remaining as many as 5 units. The shape of PPC is linear.

How can PPC relates with basic economic concept? The first economic concept is Scarcity. Scarcity is defined as the resources available are not enough to meet all wants. Human wants always exceed the available resources. For example, Diana wants to buy hat worth RM 20, but unfortunately she has only limited financial resources of RM 10, therefore owing to her limited financial resources, she cannot afford to pay the full amount for the hat she wants and thus will not be able to buy the hat.

The second economic concept is Choice. Choice is people need to choose one or only the best among numerous options in order to maximize their satisfaction owing to their limited resources. Therefore, only one or some of the options can be attained. The choice can be made by comparing the benefits or costs between the alternatives.

Lastly is Opportunity Cost. Opportunity Cost is defined as something that you need to let go in order to get something else. In other words, opportunity cost happens as a result of scarcity and thus requires people to select only the best numerous options based on better satisfaction factors that fulfill the needs greatly.]]> 2017-09-21 09:31:32 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189661013 Hi.My name is Muhammad Razihan Bin Mohd Radzi and I'm from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189661050 PPC stands for Production Possibilities Curve, it shows the various possible combinations of goods and services produced within a specified time period and with all its resources fully utilized and efficiently employed.It is also used to explain the basic economic concepts which is scarcity,Choices and opportunity cost.PPC can be influenced by three factors,economic growth,improvement in technology and population which can affect the production of certain product in a country.There are three shapes of PPC.The first one is Concave which indicate an increasing of opportunity cost.Second is Convex,it indicates the decreasing amount of opportunity cost in each production point.Lastly,Linear,that indicate a constant opportunity cost in a production.
 
How can PPC relates with basic economic concepts?The first economic concept is scarcity,it is defined as wants always exceed the limited resources.In the PPC, scarcity is a point that is outside the curve of the PPC line.This point known as scarcity, an unattainable point.It means that a certain country can’t produce any product on that point because they don’t have the resources to achieve it which is why it’s unattainable.Next is choices,it is to be made when facing with the scarcity.The choice has to be made by comparing two product and determined which one can give a better services and maximum satisfaction to the people based on the limited resources they have.In the PPC curve, choices is any point along the PPC curve which indicate a full utilization of resources.Finally,opportunity cost,it’s defined as the second best alternative that has to be forgone for another choice which gives more satisfaction.For example,if a country have the resources to produce computer and wheat,they need to choose which can give the maximum satisfaction.If they choose to produce wheat,then the opportunity cost which the second best alternative is computer.In PPC,opportunity cost is a movement from one point to another point along the PPC curve.
]]> 2017-09-21 09:31:46 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189661050 assamualaikum.my name is Ramizah Binti Abdul Halim from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189662245  PRODUCTION POSSIBILITY CURVE (PPC)
 
Production possibility curve(PPC) is a curve that shows various combination of two goods that the economy can produce with limited amount of resources and certain level of technology
 
There are four assumptions in constructing PPC
i. Only two goods can be produced 
the economy can only produce two goods for example candies and cake
 
ii.fixed resources
resources used in production are fixed in terms of number and quality
 
iii.fixed technology
The level of technology does not change 
 
iv.full level of employment
The economy is fully utilizing the resources at minimum cost
 
BASIC ECONOMIC CONCEPTS
There are 3 basics concepts of economy which is scarcity,choice and opportunity cost.
 
Scarcity 
Scarcity is defined as the resources available are not enough to meet all wants
Examples : An individual cannot buy all desired goods due to limited income
 
Choice
People have to choose how to distribute the limited resource to produce the most important goods and services.It also can be defined as making comparison among the other existing alternatives.Therefore,people have to consider the benefits and costs of each alternative.
Examples: Due to limited land ,a producer needs to choose whether to plant palm oil or rubber tree 
 
Opportunity Cost
Opportunity cost is something that we need to let go in order to get something else.This is what can be called the second best alternative forgone one choice is made
Examples: If the producer decided to plant a rubber tree,the second best alternative forgone is to plan palm oil in the same land
 
 
TYPES OF PPC
 
- Increasing opportunity cost
To produce one more unit of good Y ,we need to let go more and more unit of good X
 
-Decreasing opportunity cost
To produce one more unit of good Y, we need to let go less and less of good X
 
-Constant opportunity cost
To produce one more unit of good Y,we need to let go constant number of good X
 
 
POINTS IN PPC
 
Points along the curve
-it represent the most efficient points due to resources are being used effectively and efficiently
 
Points outside the curve
-it represents scarcity due to limited resources
Points inside the curve
-represents inefficient due to resources are not fully utilized

]]> 2017-09-21 09:38:17 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189662245 Assalamualaikum. My name is Siti Sarah Bt Zainuri from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189664310 2017-09-21 09:46:37 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189664310 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189675019 Assalamualaikum. My name is Noor Amirah Binti  Kamaruddin from AM1102F]]> 2017-09-21 10:31:45 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189675019 Assalamualaikum. My name is Nur Atiqah Azreen bt Johari from AM110 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189675334 2017-09-21 10:33:08 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189675334 Assalamualaikum. My name is Lily Sabrina binti Zulkarnain https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189681391 from AM1102F


Production possibility curve (PPC) is the  various possible combinations of goods and services produced within a specified time period with all its resources fully and efficiently employed. PPC also know as production possibility frontier (PPF) There are 3 types and shapes of PPC. The first one is constant opportunity cost the shape will be straight line. Next is increasing opportunity cost and it will be in concave shape. The last one is decreasing opportunity cost and it will be convex shape.

    There are 3 economic concept. the first one is scarcity,choice and opportunity cost . Something considered scarcity when it is both desired and limited. So because of scarcity people are forced to make choices and need to sacrifice something when they want more of something else. For example the more we want to buy books the less we can buy foods.  

  These scarce resources are called the factors of production also known as inputs. There are four factors of production such as land, labor , capital and entrepreneurship. 

Land resources are considered to be the gift of nature such as soil, woods, oil, gas and animals. These land resources are all scarce because they are desired to produce goods but are limited in nature.

Next is labor or also known as human resource. Labor is any work people do that creates good and services. For example, factory workers. they are desirable in huge numbers but they are not very limited in places like India, therefore they are not scarce. 

Capital refers to the technologies that are used to produce the goods and services we create using labor. The better the technologies the better the goods and services we can produce.

Lastly is entrepreneurship. Entrepreneurship is the innovation and creativity applied in the production of good and services. Entrepreneurship is only limited by human ingenuity, to increase entrepreneurship we need to have a better education system.


]]> 2017-09-21 10:58:50 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189681391 Shafr shafrinah_abdulsha https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189749208
Hi, my name Shafrinah Abdulsha. From class AM1102F. Here my answer. 

PPC  is a curve that shows various combinations of two goods that the economy can produce given limited amount of resources and certain  level of technology. 
    There are 3 type and shapes of PPC which is Increasing opportunity cost, decreasing opportunity cost, and constant opportunity cost. 
  when its increasing opportunity cost the shapes will be concave .we have to produce one more units good in paksi Y and then we have to lets go more and more unit of goods  in paksi X.
  Next decreasing opportunity cost the shapes will be convex . We have to produce one more unitgoods  in paksi Y, then let go less and less unit good in paksi X.
  Lastly, constant opportunity, The shapes of this type of PPC is linear. We have to produce one more unit of good in paksi Y, then let go constant number of good in paksi X . 
  We have 3 economic concept. Which is scarcity, choice and opportunity cost. 
How this economic concept and the PPC can be related is when we want to produce 2 goods in the same time. We cannot do the 2 goods in the same time and same quantity because of we have are limited resources.This is what we call scarcity concepts . we have to let go one of the good based on the resources we have. 
Next , We have to choose in how to destribute the limited economic resources to produce the most important good and service . Choose can be difine by making comparison among the exiting alternative.To make choose the people have to consider the benefit and cost of each alternative.
Lastly, opportunity cost. Since we cannot produce 2 things in the same time so we have to lets go few of the goods. So what we let go its called opportunity cost in order to get somethings else. This is the second best eltinative once the choose had made.


]]> 2017-09-21 13:56:00 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189749208 Assalamualaikum. My name is Nur Amelia Shahrina binti Halid from AM1102F ameliashahrinaa https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189782453 The production posibilities curve (PPC) Used to explain the basix economic concepts of scarcity, choices, And opputunity cost. 
  The PPC shows the various possible combination of gooda and services produced within a specified time with all its resources (labour,land and capital) Fully and efficiently employed.
 There are 3 specific assumptions to illustrate the PPC. 
1.the economy is produces only two types of goods. 
2.the level of technology is constant.
3. The economy is operating at the full level of employment. 

 There are three types of production possibilities curve which is the concave PPC, the linear PPC and the convex PPC. 
 
 The concave PPC usually drawn concave from the origin due to the increase in opputunity cost. In this case the economy foregoes increasing amounts of food in order to increase the production of computers. Thus, to produce more units of computer, The units of food that have to be forgone increase from 2 to 3,4, and 5.
 
Next, the linear (straight line) PPC indicates constant oppurtunity cost. In this case oppurtunity cost does not change when the economy intends to increase the production of computers. Here the economy foregoes the same amount of food when producing more computers. Thus, To produce more units of computer, the units of food foregone do not change, Remaining as many as 5units.

 The conves production possibilities curve which indicates decreasing oppurtunity cost. 
In this case the ecobomy has to foregoes decreasing amounts of food in order to increase the production of computers. 
Thus in order to produce more units of computer, the units of food forgone decrease from 5 to 4, 3 and 2.]]> 2017-09-21 14:56:38 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189782453 Assalamualaikum.My name is Siti Sarah Bt Zainuri from class AM1102F. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189782718 Here my answer.
Production possibility curve shows various combinations of two goods the economy can produce given limited amount of resources and certain level technology.

The assumptions in constructing PPC is the country only can produce 2 types of goods.For example is computer and bread.Second is full level of employment.Next,the technology used is fixed.Last,fixed of resources.

There are 3 types and shapes of PPC which is increasing opportunity cost,decreasing opportunity cost and constant opportunity cost.
In increasing opportunity cost,the shape is concave.To produce one more unit of good Y,we need to let go more unit of good X.Next is decreasing opportunity cost and the shape is convex.To produce one more unit of good Y,we need to let go less unit of good X.Last is constant opportunity cost where the shape is linear.To product one more unit of too Y,we need to let go constant number of good X.

We have 3 economic concept which is scarcity,choice and opportunity choice.How this economic concept and this PPC?
First is scarcity which is defined s the resources available are not enough to meet all wants.A choice has to be made between the alternative goods than can be produced.If it is decided to produce more of certain goods,the production of certain other goods has to be curtailed.So,we have to let go one of the good based on the resources we have.Second is choice.People have to choose in how to distribute the limited economic resources to produce the most important goods and services.To make choice,people have to consider the benefits and costs of each alternative to overcame wastage.Third is opportunity cost which is since we cannot have everything that we desire due to scarcity,there will be something that we have to let go.This called the second best alternative forgone once choice is made.
 ]]> 2017-09-21 14:57:03 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/189782718 Assalamualaikum. My name is Nur Alyaa Binti Saand @ Sa'ad from AM110 2F nuralyaa8 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190400915 The Production Possibility Curve (PPC) is a curve that show all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors. The PPC assumes that all inputs are used efficiently. The Production Possibility Curve also known as PPF or Production Possibility Frontier 
 
 Factors such as labor, capital and technology and others, will affect the resources available, which will dictate where the production possibility curve lies
 
 Scarcity is an economic concept that refers to a relatively permanent dearth or insufficiency of resources available to people, in relation to their wants. Economics considers people to be restless consumers, always consciously wanting to add to their possessions, but having a vague awareness that only some wants can be satisfied.
 
Without resources there would not be any goods or services available in the society. Resources are the factors of production: land, labour, capital, and the fourth, which seems to get increasing attention since it may well be at the heart of increased productivity, entrepreneurship
 
The way we combine the relevant factors leads to the shape of the PPC.
 

There are 3 shape of PPC


 A common PPC: increasing opportunity cost
 
 

A straight line PPC: constant opportunity cost
 
 

An inverted PPC: decreasing opportunity cost


  1. Points on the curve: these points are attainable by the economy. They represent combinations of goods and services for which resources are being efficiently employed. Production efficiency is achieved when we can produce more of one good or service, by producing less of another. In other words, trade offs are necessary as we move more toward one good or service than another, and the further we move toward the one, the more difficult and costly that reallocation becomes.

2.Points inside the curve: these points illustrate less than full employment, or poor management of the economy's resources. In contract negotiation, for example, bids could be rigged and competition stifled.

 3.Points outside the curve: these points are beyond the capacity of the economy to produce at this time. Resources are unavailable to meet these kinds of production expectations.
 
]]> 2017-09-23 13:37:36 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190400915 Assalamualaikum. My name is Nadiah Binti Abdul Aziz from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190503422 PRODUCTION POSSIBILITIES CURVE (PPC) shows all the combination of two groups of goods that can produce the maximum production using limited resources and certain level of technology given.This Production Possibilities Curve (PPC) are also known as PRODUCTION POSSIBILITIES FRONTIER (PPF)
The assumption of PPC is
  1. The country can produce  types  of goods 
  2. Full level  of employment
  3. Constant technology
  4. Fixed resources
ECONOMIC CONCEPTS
There are 3 main economic concepts that are
  • SCARCITY is the main economic problem faced that human wants to exceeds the availability of time,goods and resources. It states that society has insufficient productive resources to fulfill all human wants and needs.
  • CHOICES is the condition of having to choose among alternatives. A scarce good is one for which the choice of one alternative requires that another be given up.
  • OPPURTUNITY COST is the value of the best alternative forgone in making any choice.
There are 3 shapes of  graph relates in production possibilities curve that are
  1. straight line (constant opportunity cost) indicates that to produce one more item on axis Y the equal amount of item on axis X needs to let go.
  2. concave (increasing opportunity cost)This indicates an Increasing Opportunity Cost, meaning that the more you produce Item on axis Y, the Opportunity Cost of Item on axis X increases. so you get more item Y by losing more item X
  3. convex (decreasing opportunity cost) indicates The bow in (or convex) shape indicates a decrease in Opportunity Cost that the more you produce Item on axis Y, the Opportunity Cost of Item on axis X decreases, so you get more of Item Y and while losing less of Item X.
]]> 2017-09-24 04:56:28 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190503422 Assalamualaikum. My name is Nursyahirah Binti Mohamad Nor from AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190534732
Production Possibility Curve (PPC) is a curve that shows various combinations of two goods that the economy can produce given limited amount of resources and certain level of technology.

There are four assumptions in constructing PPC:
     1) Only two goods can be produced. The economy can only produce two type of goods. For example, computer and bread.
    2) the resources available are fixed in term of quality and quantity. Resources used in the production are fixed in term of their number and quality.
     3) Constant level of technology. The level of technology does not change during the analysis.
     4) Full employment of resources and productive efficiency. The economy is fully utilizing the resources at minimum cost.

There are three basic economic concepts was related with production possibility curve (PPC) which is scarcity, choice, opportunity cost. Scarcity  can defined as the resources available are not enough to meet all wants. Human wants always exceed the available resources. Scarcity is forever problem faced by everyone and every nation in the world. Due to the scarce resources , people, are forced to make choice in order to fulfill their satisfaction.
   Secondly, choice. people have to choose in how to distribute the limited economic resources to produce the most important goods and services. Choice can be defined as making comparison among the existing alternatives. In order to make a choice, people have to consider the benefits and costs of each alternative. It is very important to choose the best alternative to overcome wastage.
Lastly, opportunity cost. Since we cannot have everything that we desire due to scarcity, there will be something that we have to forgo. Opportunity cost is something that you need to let go in order to get something else. This is what can be called the second best alternative forgone once choice]]> 2017-09-24 10:50:34 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190534732 Assalamualaikum. My name is Nurul 'Aliah 'Afaf Binti Mohd Jaffar from AM1102F. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190544545
The Production Possibilities Curve or what we called as PPC is used to explain the basic economic concepts which are the scarcity, choices, and opportunity cost.  The PPC shows the various possible combinations of goods and services produced within a specified time with all its resources which include labour, land, and capital that must be fully and efficiently employed.

     There are three types of PPC lines; straight line, concave, and convex and all of these types are related to the economic concepts; scarcity, choices, and opportunity cost.

     So the straight line shows the opportunity cost is being constant. The concave line shows that the opportunity cost is increasing. While the convex line shows that the opportunity cost is decreasing.

     1. Any point outside the PPC demonstrates the main basic of economic concept; scarcity. At this point, due to limited resources and technology it will cause the company to unable in achieving the production. For example, when a company wants exceed output, the scarcity may happen.

2. Any point along the PPC shows the second basic economic concept; choices. At this point, the company will have to make its choices from various possible combinations which will maximised its satisfaction. Any point along the PPC will be both attainable and efficient.

3. Any movement from one point to another shows the third basic economic concept; opportunity cost. This point means that it is beyond the capacity of an economy to produce at this time. the company might have to forgo something if they want something.







]]> 2017-09-24 12:07:05 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190544545 Nursyuhadah binti Azhar, AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190551134 A production possibilities curve PPC is an economic model that shows the production efficiency and allocation possibilities of the economy for a given level of resources. More specifically, it describes a society's trade-off between two goods or services or two types of goods and services.

]]> 2017-09-24 12:54:36 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190551134 Assalamualaikum https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190553617 DeerMy name Is Nur Farah Diana binti Khairul Nizam,AM1102F

Production possibility curve is also called the production possibility frontier.

Production possibility curve (frontier) is a graphic representation of alternative production possibilities facing an economy. As the total productive resources of the economy are limited, the economy has to choose between different goods. The productive resources can be used for the production of various alternative goods. It has, therefore, to be decided which goods are to be produced more and which ones less.
Produciton possibilities curve(ppc),have three different shape.First,straight line which is has a constant of cost.Second,concaveto the origin mean increasing of cost.Lastly,convex to the origin which is decrease of cost.
Next,is assumption of PPC.First,the cowitry only produce two types of goods.Second,full level of employment.Next,constant technology mean there is no improvement in technology.Lastly,fixed of resourses.


]]> 2017-09-24 13:13:59 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190553617 asss https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190554925 2017-09-24 13:23:33 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190554925 Assalamualaikum. My name is Siti Farah Tasha Binti Abdullah from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190554931 Production Possibilities Curve (PPC) or Production Possibilities Frontier (PPF) is defined as a curve that shows the maximum combination of two goods that an economy can produce with its existing or available resources and level of technology.

The PPC can be drawn using four bacis assumptions:
i. the economy produces only two types of goods.
ii. the level of technology is constant.
iii. fixed factors of production.

The relationship of PPC and economic concepts:
the common PPC graph which is The Concave PPC graph. If refer the graph, it has three different parts which is outside the line and inside the line. the explaination are as follow:
i. outside the line in the PPC graph relate to scarcity. 
ii. the line along the PPC graph relates choice. 
iii. movement along the line relates to opportunity cost.  

That is the relationship between PPC and economic concepts.

sincerely
FARAH TASHA


]]> 2017-09-24 13:23:35 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190554931 Assalammualaikum https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190555265 2017-09-24 13:26:13 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190555265 Assalammualaikum my name is Mohammad Fazrul Bin Ismail and from AM110 2E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190555313 2017-09-24 13:26:41 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190555313 Assalamualaikum my name is Mohd Faris Danial bin Madzlan and I from group AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190557462 PRODUCTION POSIBILITIES CURVE or PPC shows the various possible combination of goods and services produced within a specified time period with all its resources fully and efficiently employed. PPC also used to explain the basic economic concepts such as Scarcity, Choices and Opportunity cost. There are three types of PPC shape such as concave that is increasing opportunity cost. Secondly, convex that is decreasing in opportunity cost. Third, linear in shape because of there is constant in opportunity cost. There are also assumption in PPC:
1)the economy is operating in full employment and full production capacity

2)the amount of resources available are fixed

3)the state of technology does not change throughout the production.


PPC are related with economics concepts when we want to know the information about economics, we can refer to PPC because there are complete explaination based on economics concept such as Scarcity, Choices and Opportunity cost


]]> 2017-09-24 13:42:33 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190557462 Assalamualaikum, my name is Nurul Azwaire Binti Yung Azwaire, from class AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190557599 The production possibilities curve (PPC) is used to explain the basic economic concepts of scarcity, choices and opportunity cost. The PPC shows the various possible combinations of goods and services produced within a specified time with all its resources (labour, land, and capital) fully and efficiently employed.

There are 3 basic economic concept

]]> 2017-09-24 13:43:31 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190557599 Bismillahirahmanirahim. Assalamualaikum wbt. My name is Muhammad Luqman Hakim Bin Mohamad Yusri, friom class AM1102F. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190560083
the production possibilities curve can be defined as curve that shows in the maximum combination of two goods that an economy can produce with existing or variable resources and level of technology. 

there are 3 basics economic concept which is scarcity, choice and opportunity cost.
firstly, scarcity occurs when human desires exceed what they can really afford to have owing to their limited resources available.
Secondly, choice can be defined as human need to choose one or only the best among numerous options in order to maximize their satisfaction.

Lastly,  opportunity cost is the number  of goods that has to be forgone in order to make the choice..


]]> 2017-09-24 14:01:18 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190560083 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190560292 ass]]> 2017-09-24 14:02:51 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190560292 mohammad azrul bin khairul anuar AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190560297 assalamualaikum nama yang diberi mohammad azrul bin khairul anuar and very good morning from class 2E. what is PPC ? Production possiblities curved or know as PPC is a  maximum combination of product or good that can be produce based on technolgy advancement and also the increasing of population. what can be related with economy is for example, when goverment need to find the weakness of somethings.. they can traxk using of this method to ensure what can the achieve. did they achive target ? or they run out of ineffiency..thats all my explaination..thank you ]]> 2017-09-24 14:02:53 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190560297 Assalamualaikum, I'm Syukrina Batrisyia Binti Azman from class AM1102F. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190563587 The production possibility curve (PPC), that is also known as production possibility frontier, is a curve depicting all maximum output possibilities for two production of goods, given a set of inputs consisting of resources and other factors. The PPC assumes that all resources are utilised efficiently.

Labour, capital and technology, are three of a few factors that will affect the resources, hence will dictate where the PPC lies. The PPC indicates the production possibilities of both of the two goods when resources are fixed. This means that the production of one good can only increase when the production of the other good is reduced, whether the availability of resources is present or not. This indicates that the PPC measures the efficiency in which two goods or commodities can be produced together.

 
The PPC is correlated with economic concepts, which are scarcity, choices and opportunity cost. These economic concepts can be determined by three different types of PPC lines.

1. The straight line depicts that the opportunity cost is being constant.
2. The concave line depicts that the opportunity cost is increasing.
3. The convex line depicts that the opportunity cost is decreasing.

Points that are outside of the PPC are the points that will be unattainable. This happens because the resources available in the economy are limited in numbers, meaning that resources are scarce, for example, scarcity in terms of the land, capital and the labour in the economy  in any given time and cannot be increased in the short-run. In simple words, the economy does not have the capacity to reach that level of production with the available resources. Thus, this PPC shows the concept of scarcity of resources.

Points that lie along the PPC are dictating the second economic concept, which is choice. Choice is illustrated by the choice the society need to make between available commodities along the production possibility curve.  The people need to choose whether they are going to produce one of the commodities, in which that one commodity is produced for more and another for less.

The third economic concept is opportunity cost. Opportunity cost is illustrated by the negative slope of the curve which indicates that more of one good can only be obtained by sacrificing the other good. Opportunity cost refers to a benefit that a person could have received, but gave up, to take another course of action. In other words, an opportunity cost represents an alternative given up when a decision is made.
 

]]> 2017-09-24 14:25:58 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190563587 assalamualaikum, my name is muhammad fadjrul bin ishak from AM1102E . https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190565346 PPC is production possibility curve is a curve that shows various combination of two goods that the economy can produce given limited amount of resources and certain level of technology. the assumption in constructing PPC is the first one is only two goods can be produced means the economy can only produce two goods. second is the resources available are fixed in term of quality and quantity . for example resources used in the production are fixed in term of their number and quality.the third one is the technology used is fixed which means the level of technology does not change during the analysis.the forth is full employment of resources and productive efficiency means the economy is fully utilizing the resources at mininum cost.


PPC can be relates by scarcity , choice and opportunity . the first one is scarcity . scarcity is a point that is outside the curve of ppc line.  which means the company cannot produce any product to achieve that point because of not enough resources its become unattainable . 
second is choice . its points at along ppc line and facing the scarcity point . the choice have to be made based on which product or service are better . the best one will be chosen based on the resources the company have and maximum satisfaction to the people.
the last one is opportunity cost . its movement from one point to another point along the ppc curve. its alsomeans the second best alternative that has to be forgone for another choice which gives more satisfaction.

]]> 2017-09-24 14:38:09 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190565346 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190566630 2017-09-24 14:47:13 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190566630 Hi. My name is Nabilah bt Abd Khalil. I'm from class AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190567631 Production Possibility Curve (PPC) is a curve that shows various combination of two goods that the economy can produce given limited amount of resources and certain level of technology.

The assumptions in constructing PPC have four which is :-
1) only two goods can be produced
2) the resources available are fixed in term of quantity and quality
3) the technology used is fixed
4) full employment of resources and productive  efficiency.

Production Possibility Curve also have three types of shapes. The shapes known as :-
1)  increasing opportunity cost are called as Concave.
2) decreasing opportunity cost are called as Convex
3) constant opportunity cost are called as Linear or Straight Line.

Next, the relationship between Production Possibility Curve and economic concepts are related with the concepts of Scarcity, Choice and opportunity  costs.  If refer the graph, it has three different parts which is outside the line, inside the line and along the curve.

1) Scarcity is defined as the resources available are not enough to meet all wants and human wants always exceed the available resources and the relationships with the PPC is if the point is outside the line in the PPC graph is relate to scarcity

2) Choice can be defined as making comparison among the existing alternatives. Where people have to choose in how to distribute the limited economic resources to produce the most important goods and services. In order to make a choice, people have to consider the benefits and costs of each alternative. It is very important to choose the alternative to overcome wastage. The relationships with the PPC is if the point is the line along the PPC graph is relate to choices.

3) Opportunity costs is something that you need to let go in order to get something else. since we cannot have everything that we desiredue to scarcity, there will be something that we have to forgo. This is what can be called the second best alternative forgone once choice is made. The relationships with the PPC is if the point movement along the line  in the PPC graph is relate to opportunity costs.

Thats is the relationships between PPC and economic concepts.]]> 2017-09-24 14:53:53 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190567631 Assalamualaikum. My name is Nur Atiqah Azreen bt Johari from AM110 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568727 2017-09-24 15:00:37 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568727 Assalamualaikum. My name is Nur Atiqah Azreen bt Johari from AM110 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568745


]]> 2017-09-24 15:00:44 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568745 Assalamualaikum. My name is Nur Atiqah Azreen bt Johari from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568749 The production possibilities curve (PPC) is used to explain the basic economic concepts of scarcity, choices and opportunity cost. The PPC shows the various possible combinations of goods and services produced within a specified time with all its resources (labour, land and capital) fully and efficiently employed.

The assumptions in constructing PPC is:
i) Only two goods can be produced.
-With limited resources, the economy can only produce two goods.
ii) The resources available are fixed in term of quantity and quality.
-Resources used in the productions are fixed in terms of their number and quality.
iii) The technology used is fixed.
-The level of technology does not change during the analysis. It means, there is no new adoption of technology during the production process.
iv) Full employment of resources and productive efficiency.
-The economy is fully utilizing the resources at minimum cost. Where there is no wastage or unemployed of resources during the process.

There are 3 types and shapes of Production Possibility Curve (PPC):
i) Increasing opportunity cost.           (Concave)
ii) Decreasing opportunity cost.
(Convex)
iii) Constant opportunity cost.
(Liner or Straight Line)

Basic Economic Concepts:
i) Scarcity
-Scarcity is defined as the resources available are not enough to meet all wants.
For example, a firm cannot produce all goods due to lack of technology and labors or an individual cannot buy all desired goods and servies because his income is limited.

ii) Choice
-People have to choose in how to distribute the limited economic resources to produce the most important goods and services.Choice can be defined as making comparison among the existing alternatives.

iii) Opportunity Cost
-Opportunity cost is something that you need to let go in order to get something else.
For example,if the person decided to buy a new house, with limitation of resources the opportunity cost is to have a new car or if the producer decided to plant a rubber tree, the second best alternative forgone is to plan palm oil in the same land.








]]> 2017-09-24 15:00:46 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568749 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568757 2017-09-24 15:00:49 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568757 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568783 Production ]]> 2017-09-24 15:00:58 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568783 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568786 Production pos]]> 2017-09-24 15:00:59 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568786 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568793 Production posi]]> 2017-09-24 15:01:02 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568793 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568800 Production posis]]> 2017-09-24 15:01:04 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568800 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568807 Production pos]]> 2017-09-24 15:01:06 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568807 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568812 Production possibility]]> 2017-09-24 15:01:09 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568812 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568818 Production possibility ]]> 2017-09-24 15:01:10 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568818 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568825 Production possibility curve]]> 2017-09-24 15:01:13 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568825 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568829 Production possibility curve ]]> 2017-09-24 15:01:15 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568829 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568834 Production possibility curve (PPC) is a curve that shows various combinations of two goods that the economy can produce given limited amount of resources and certain level of technology.

There are assumptions in constructing PPC:
i) Only two goods can be produced. ( with limited resources, the economy can only produce two goods. for example: computer and bread )
ii) The resources avaible are fixed in term of quantity and quality. ( resources used in the productions are fixed in terms of their number and quality. for example: the amount and quality of resources used to produce computers and breads are equally constant.
iii) The technology used is fixed. ( the level of technology does not change during the analysis. it means that, there is no new adoption of technology during the production process )
iv) Full employment of resources and productive effiency. ( The economy is fully utilizing the resources at minimum cost. Where there is no wastage/unemployed of resources during the production process )

How it relates with basic economic concepts:
i) Scarcity
- A firm cannot produce all goods due to lack of technology and labors. 
- An individual cannot buy all desired goods and services because his income is limited.
ii) Choice
- With limitation of income, an individual has to choose either to buy new house or new car in order to maximize his utilization
- Due to limitation of land, a producer needs to choose whether to plant palm oil or rubber tree to maximize profit.
iv) Opportunity Cost
- If the person decided to bu a new house ]]> 2017-09-24 15:01:17 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568834 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568839 Production possibility curve (PPC)]]> 2017-09-24 15:01:20 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568839 Assalamualaikum. My name is Noor Amirah Binti Kamaruddin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568841 Production possibility curve (PPC) ]]> 2017-09-24 15:01:20 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190568841 Assalamualaikum.My name is Nur Fazeera Begum Binti Razali from AM1102f https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190571574 Production possibilities curve (PPC) shows all the combination of two group of goods that can produce the maximum production using limited resources and certain level of technology given. This production possibilities curve (PPC) are also known as PRODUCTION POSSIBILITIES FRONTIER (PPF)

The assumption of PPC is 
  1. The country can produce types of goods.
  2. Full level of employment 
  3. Constant technology 
  4. Fixed resources

ECONOMIC CONCEPTS 
There are three main economy concepts that are
  • SCARCITY is the main economic problem faced that human wants to exceeds the availability of time goods and resources.
  • It states that society has insufficient productive resources to fullfill all human wants and needs.
  • CHOICES is the condition of having to choose among alternatives. A scarce good is one for which the choice of one alternative requires that another be given up.
  • OPPORTUNITY COURSE is the value of the best alternative for gone in making any choice.

There are 3 shapes of graph relates in production possibilities curve that are 

  1. Straight line (constant opportunity course) indicates that to produce one more item on axis Y the equal amount of item on axis X needs to let go.
  2. Concave (increasing opportunity course) This indicates an increasing opportunity course,meaning that the more u produce item on axis Y, the opportunity course of item on axis X increases. So you get more item Y by losing more item X
  3. Convex (decreasing opportunity course) indicates the bow in (or convex) shape indicates a decrease in opportunity course that the more you produce item on axis Y the opportunity course of item in axis X decreases,so you get more of item Y and while losing less of item X.

]]> 2017-09-24 15:19:48 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190571574 Assalamualaikum. My name is Nur Suriya binti Sabarudin from AM1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190572968 Production Possibilities Curve (PPC) shows all the combinations of two groups of goods that can produce the maximum production using limited resources and certain level of technology given. This PPC are also known as PRODUCTION POSSIBILITIES FROM FRONTIER (PPF)
The assumption of PPC is:
  1. The country can produce types of goods.
  2. Full level of employment.
  3. Constant technology.
  4. Fixed resources.

ECONOMIC CONCEPTS

There are 3 main economic concept that are
  • SCARCITY is the main economic problem faced that human wants to exceeds the availability of times, goods and resources. It states that society has insufficient productive resources to fulfill all human wants and needs.
  • CHOICE is the condition of having to choose among alternative. A scarce good is one for which the choice of resources want alternative required that another be given up.
  • OPPORTUNITY COST is the value of the best alternative forgone in making any choice.
There are 3 shapes of graphed relates in production probabilities that are 
  1. Straight line (constant opportunity cost) indicates that produce one more item on axis Y the equal amount of item on axis X need to let go.
  2. Convex (decreasing opportunity cost) this indicate of decrease in Opportunity Cost that the more you produce item on axis Y, the Opportunity Cost on item on axis X decrease, so you get more of item Y while loosing less of item X. 
  3. Concave (increasing opportunity cost) this indicate an increasing Opportunity Cost, meaning that the more you produce item on axis Y, the Opportunity Cost of item axis X increases. So you get more item Y by loosing more item X. 
]]> 2017-09-24 15:29:15 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190572968 Assalamualaikum. My name is Nur Najmi Binti Zuhairi and I'm from AM1102F. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190575085 The Production Possibilities Curve (PPC) is basically to explain the basic of economic concepts which is scarcity, choices and opportunity cost. More specifically, it looks like a different combinations of two goods that an economy can produce using certain resources and technology during a specific time frame.

There are four assumptions of PPC that can be related to the economic concepts.

1. The country only can produce 2 types of goods because our resources are limited.
2. Technology remains constant that there will be no improvement in technology.
3. Fixed resources since our economy has limited and fixed quantities of resources aspect of scarcity problem and also one makes for useful and interesting analyses.
4.Full level of employment.

There are 3 types of PPC which includes straight line, concave and convex. All these types are depend on opportunity cost.

1. Straight line or constant  PPC exhibits constant opportunity cost as you increase production of one good.

2. Concave or bowed out PPC which occur when opportunity cost  as you move to increase production of one good.

3. Convex or bowed in  PPC (a rare occurence) will have with each increase of one a good decrease in opportunity cost of the good forgone.]]> 2017-09-24 15:44:15 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190575085 A https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190577934 2017-09-24 16:03:20 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190577934 Assalamualaikum, Im Dayang Irnarah Shukrina Binti Abang Hipni from A1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190578051 Production Possibilities Curve (PPC) is used to explain basic economy concept of scarcity, choices and oppurtunity cost.

The assumption of PPC 
- The country cab only produce two types od goods

- Full level of employment

- Constant technology

- Fixed of resources.


]]> 2017-09-24 16:04:05 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190578051 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190598498 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190578051]]> 2017-09-24 18:20:33 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190598498 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190599675 Assalamualaikum, Im Dayang Irnarah Shukrina Binti Abang Hipni from AM1102F

EXPLAIN PPC AND HOW IT RELATES WITH ECONOMIC CONCEPTS
PPC is Production Possibilities Curve and is use to explain the basic economy concepts of scarcity, choices and opportunity cost.
The PPC shows various possible combinations of goods and services produced within a specified with give technology and sources (labour, land and capital).

The Assumption of PPC :
• The country can only produce two types of goods.
• Full levels of employment
• Constant technology
• Fixed of resources.
The concepts in ECONOMICS.
1. SCARCITY. -  Wants always exceeds limited resources to satisfy society.
 If there is no scarcity, there will be no economic.
 Factors of production are the basic resource used in production process in order to produce economic goods and services
 4 groups of factors of production are land, labour, capital and entrepreneur.
  
2. CHOICES. 
 When there is scarcity, choices have to be made.
 Individuals, firms and government have to make decisions to choose from many alternative.

3. OPPORTUNITY COST. -  Cost of one choice in terms of best forgone alternative.

3 SHAPES OF PPC 
1. INCREASING OPPURTUNITY COST. 
 This means that the cost of the country producing more of one product and decreasing the production of another product.
 This produce a concave shape curve.

2. DECREASING OPPURTUNITY COST.
 The PPC is convex due.

3. CONSTANT OPPURTUNITY COST.
 PPC is linear]]> 2017-09-24 18:29:08 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190599675 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190654412 Assalamualaikum, i am Aliyyah Mohd Isa from AM1102]]> 2017-09-25 02:26:37 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190654412 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190654488 Assalamualaikum,i am Amiera Binti Hazli from AM1102F]]> 2017-09-25 02:27:12 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190654488 Assalamualaikum and hi, im Nur Alia Azwin Binti Roslee from Am1102F https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190659056 3KEXPLAIN PPC AND HOW IT RELATES WITH ECONOMIC. 

PPC is Production Possibilities Curve is a curve that shows various combination of two goods that the economy can produce given limited amount of resources and certain level technology. 
4 Assumption in contsructing PPC ;
-only can produce 2 goods
- fixed resources
- full level of employment 
- costant technology 

THE ECOMOMIC CONCEPTS 

1. Scarcity 
   - The resources available are not enough to meet all want
   - People are forced to make choice in order to fulfill their satisfaction ( due to scarce resources ) 

2. Choice
  -  People have to choose in how distribute tge limited economic resources to produce the most importabt goods and service.
  - Can be defined as making comparison among the existing alternatives. 
  - People have to consider the benefits and cost

3. Oppurnity cost 
  - It is something that you need to let go. 
  - It also can be called as second best alternative forgone. 

ITS HAVE 3 SAHPES OF GRAPGH THAT RELATED TO PRODUCTION POSSIBILITIES CURVE

1. COSTANT OPPURNITY COST 
   - It production possibilities linear
2. INCREASING OPPORTUNITY COST 
  - the shape of ppc is concave 
  - To produce one more unit of good y, we need to let go more and more unit of good x. 
3. DECREASING OPPURTINTY COST 
  - The shape is convex.
- to produce one more unit of good y, we need to let goless and less unit of good x.


]]> 2017-09-25 03:03:17 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/190659056 Assalamulaikum and hi,im Nurul Atikah Binti Arifin from Am1102E. iamatikah77 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191193738 EXLPLAIN PPC AND HOW IT RELATES WITH ECONOMIC.

PPC is a curve that shows various combinations of two goods that the economy can produce given limited amount of resources and certain level technology.
THE ECONOMIC CONCEPT 
1.Scarcity
Defined as the resources available are not enough to meet all wants.Human wants always exceed all the available resources.
2.Choices
People have to choose in how to distributive the limited economic resources to produce the most importan good and services.Choice can be defined as making comparison among the existing alternatives.
3.Opportunity cost
Since we cannot have everything we disire due to scarcity ,thre will be something that we have to forgo.
Opportunity cost is somethinng that u need to let goin order to get something else.This is what can be called the second best alternative forgone once choise has made.
There are three types And shapes of graph of PPC.
1) increasing opportunity cost
-to produce one more unit of good Y, we need to let go more and more unit of good X.The shape of PPC is concave.
2) Decrasing opportunity cost.
To produce one more unit of good Y, we need to let go less and less unit of good X.The shape of PPC is convex.
3) Constant Opportunity Cost.
To produce one more unit of good Y, we need to let go constant number of good X.The shape of PPC


]]> 2017-09-26 12:08:34 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191193738 Assalamualaikum https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191247649 2017-09-26 13:51:40 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191247649 Assalamualaikum and hi,I'm Nur Farah Syazana BT Noor Hammad from AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191248217 EXPLAIN PPC CURVE AND HOW ITS RELATES WITH ECONOMIC CONCEPT.

First of all,production possibility curve (PPC) is a curve that shows various combinations of two goods that the economy can produce given limited amount of resources and certain level of technology.
Furthermore,economic has three basic concepts which are scarcity, choice and opportunity cost.Scarcity is defined as the resources available are not enough to meet all wants.It is forever problem faced by everyone and every nation in the world.Choice can be defined as making comparison among the existing alternatives.In order to make a choice,people have to consider the benefits and cost of each alternative.While opportunity cost is something that we need to let go in order to get something else.

Economic concepts can be relates with the PPC.The first concept that can be relate is scarcity that due to the limited resources.For example,a firm cannot produce all goods due to lack of technology and labors.This will produce a point outside the PPC curve that represent the scarcity and it is unattainable point.Secondly,choice.In addition,opportunity cost also can effect the PPC curve.The increasing,decreasing and constancy of opportunity cost can effect the curve.For example,to produce one more unit of good Y,we need to let go more unit of good X.So the curve will be in concave shape.

]]> 2017-09-26 13:52:28 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191248217 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191251979 2017-09-26 13:57:51 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191251979 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191260013 2017-09-26 14:10:06 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191260013 Assalamualaikum and hi,I'm Siti Athirah Nabilah binti Razali from AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191260371 Explain PPC and how it relates with economics concept.

The PPC is used to explain the basic economic concept of scarcity,choices and opportunity cost. The PPC shows various possible combinations of goods and services produced within a specified time with resources fully such as labour,land and capital and efficiently employed.
Economic has three concepts which are scarcity,choice and opportunity cost. Scarcity is a universal problem faced by both poor and rich nations in order to fulfill their needs. Next, choice are when there is scarcity, the choices have to be made. Everyone cannot have what he or she wants,so they have to choose from the available alternatives. Last, opportunity cost can be defined as the second best alternative that has to be forgone for another choice which gives more satisfaction.


]]> 2017-09-26 14:10:38 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191260371 Assalamualaikum https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191264123 2017-09-26 14:16:01 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191264123 Assala https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191272347 2017-09-26 14:29:52 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191272347 Assalamualaikum.My name is Nur Adibah Bt Nor Ile from AM1102E. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191272379 Explain PPC and how it relates with economics concept.

]]> 2017-09-26 14:29:55 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191272379 Assalamualaikum.My name is Nurul Syuhaidah Ezza Bt Mohd Ali from AM1102E. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191274669 Explain PPC and how it relates with economics concept. 

PPC is means a Production Possibilities Curve that shows the alternatives combination of two goods which can be produced with the existing resources and the current level of technology. 
There are three types of ppc. First concave,concave shows the principle of increasing opportunity cost. Second convex, convex implies a diminishing or decreasing opportunity cost. Third linear or straight line,that implying a constant opportunity cost. 
In the Economics concept there are three concept, first scarcity, scarcity means the production that they want produce was not enough resources. Second, choice, in a choice concept we have to choose among the attainable points on the boundary between (point A to F) which reflect efficient combination of production.moving point A to B, for example indicates that the choice is to produce more radios and fewer television.Third, opportunity cost,opportunity cost is something that you need to letgo for example,founder of facebook mark zuckberg he choose to skip college and he decide to open his own business where he earns millions of dollars. ]]> 2017-09-26 14:33:42 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191274669 Maizatul najwa binti osman,from https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191275341 Explain PPC and how it relates with economic concepts

Production possibility curve (PPC) is a curve that shows various combination of two goods that the economy can produce given limited amount of resources and certain level of technology. Economic concepts explain about scarcity,choice and opportunity costs.
Scarcity is defined as the resources available are not enough to meet all wants. For example, a firm cannot produce all goods due to lack of technology because his income are limited. People are forced yo make choice in order to fulfill their satisfaction.
Choice can be defined as making comparison among existing alternatives. It very important to choose the best alternative to overcome wastage. For example,with limitation of income,an individual has to choose either buy a new house or new car in order to maximize his utilization. Since we cannot have everything,there will have something to let go. That is called opportunity cost. For example,if the person decided to buy a new house,the limitation of resources the opportunity cost is to have a new car.

]]> 2017-09-26 14:34:47 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191275341 Assalamualaikum, my name is Nurul Azwaire Binti Yung Azwaire, from class AM1102E. The production possibilities curve (PPC) is used to explain the basic economic concepts of scarcity, choices and opportunity cost. The PPC shows the various possible combinations of goods and services produced within a specified time with all its resources (labor, land, and capital) fully and efficiently employed.There are 3 basic economic concept  BASIC ECONOMIC CONCEPTS There are 3 basics concepts of economy which is scarcity,choice and opportunity cost.  Scarcity  Scarcity is defined as the resources available are not enough to meet all wants Examples : An individual cannot buy all desired goods due to limited income  Choice People have to choose how to distribute the limited resource to produce the most important goods and services.It also can be defined as making comparison among the other existing alternatives.Therefore,people have to consider the benefits and costs of each alternative. Examples: Due to limited land ,a producer needs to choose whether to plant palm oil or rubber tree   Opportunity Cost Opportunity cost is something that we need to let go in order to get something else.This is what can be called the second best alternative forgone one choice is made Examples: If the producer decided to plant a rubber tree,the second best alternative forgone is to plan palm oil in the same land   TYPES OF PPC  - Increasing opportunity cost To produce one more unit of good Y ,we need to let go more and more unit of good X  -Decreasing opportunity cost To produce one more unit of good Y, we need to let go less and less of good X  -Constant opportunity cost To produce one more unit of good Y,we need to let go constant number of good Xb   POINTS IN PPC  Points along the curve -it represent the most efficient points due to resources are being used effectively and efficiently  Points outside the curve -it represents scarcity due to limited resources Points inside the curve -represents inefficient due to resources are not fully utilized  https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191281440 2017-09-26 14:44:14 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191281440 Assalamualaikum.My name is Nur Adibah Bt Nor Ile from AM1102E. Explain PPC and how it relates with economics concept.Production possibility curve (PPC) Is a curve that shows various combinations of two goods that the economy can produce given limited amount of resources and certain level of technology.  Assumptions in contructing PPC i) only two goods can be produced- for example books and phone ii) The resources available are fixed in term quantity and quality.  iii) the technology used is fixed.  iv) Full employment of resources and productive efficiency.  There are three types and shape of PPC.  1.increasing opportunity cost (concave)  -To produce One more unit of good Y, we need to let go more and more unit of good x.  2. Decreasing opportunity cost (convex) - to produce one more unit of good y, we need to let go less and less unit of good x .3. Constant opportunity cost(linear)  - to product one more unit of good y, We need to let go constant number of good x.  And we have 3 basic economic concepts. Scarcity is defined as the resources available are not enough to meet all wants. In other words scarcity is human unlimited wants. Because of the scarcity and the limited resources that we faced. We have to make a choice. Choice can be defined as making comparison among the existing alternatives. After we make a choice. Then the other that not be choosen will be opportunity cost. Opportunity cost is something that you need to let go in order to get something else. In the other words second best alternative forgone once choice is made. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191296095 2017-09-26 15:07:25 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191296095 My name shariza binti abdul shukor from Am1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191303579 2017-09-26 15:20:12 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191303579 Assalammualaikum, My name Mohammad Fazrul Bin Ismail from AM110 2E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191307304 The production possibility curve (PPC) or Producti on Possibilities Frontier (PPF) is defined as a curve that shows maximum combination of two goods tha an economy can produced with its existing or available resources and level of technology. The example of available resources is in economics in concepts, there are three basic economic concepts namely 
1) Scarcity
2) Choice
3) Opportunity Cost 

Scarcity occurred when human desires exceeds more than what they really can afford to have due to their limited resources available. Limited resources with unlimited human desires of want resulting to scarcity. For example, someone need something but because of insufficient resources they cannot get that thing.

In the existence of scarcity, human need to choose one or only the best option among numerous option in order to maximize their satisfaction due to their limited resources factor. Therefore only one or some of the options can be attained. The choice can be made by comparing the benefits or cost between the alternatives.

Opportunity cost is defined as the number of goods that has to be forgone in order to make the best alternatives or choice. In order words, opportunity cost happen as a result of scarcity thus requires human to select only the best option among numerous option based on better satisfaction factor that fulfill the need greatly. ]]> 2017-09-26 15:25:59 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191307304 Assalamualaikum, My name Nur Shaza Tul Salina Binti Jamil from AM1102E . https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191321242 Production Possibility Curve (PPC) is a curve that shows various combination of two goods that the economy can produce given limited amount of resources and certain level of technology. There are four assumptions in constructing PPC which is only two goods can be produced because of limited sources. Then, the resources available are fixed in term of quantity and quality. Next, the technology used is fixed. Lastly, full employment of resources and productive efficiency.
  
  PPC also relates with basic economic concepts. We have scarcity which defined as the resources available are not enough to meet all wants. Human wants always exceed the available resources. For example, a firm cannot produce all goods due to lack of technology and labors. Then, choice is people have to choose in how to distribute the limited economic resources to produce the most important good and services. For example, due to limitation of land, a producer needs to choose whether to plant palm oil or rubber tree to maximize profit. In addition, for the opportunity cost is something that you need to let go in order to get something else. That is what can be called the second best alternative forgone once choice is made. For example, if the person decided to buy a new house, with limitation of resources the opportunity cost is to have a new car .]]> 2017-09-26 15:49:51 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191321242 My name is Muhammad Adam Khalid Bin Mohd Abd Talib form AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191341510
Production Possibility Curve (PPC) is a curve that shows various combination of two goods that the economy can produce given limited amount of resources and certain level of technology.The PPC can be drawn using four basic assumptions which is the economy produces only two types of good,the level of technology is constant,fixed factors of production and the economy is operating at the full level of employment.How it relates to economic concepts is scarcity which is a firm cannot produce all goods due to lack of technology and labours and an individual can't buy all desired goods and serves because his income is limited.Other than that is choice which is with limitation of income, an individual has to choose either to buy a new house or new car in order to maximize his utilization and due to limitation of land, a producer needs to choose whether to plant palm oil or rubber tree to maximize profit.Lastly is opportunity cost which is if the person decided to buy a new house, with limitation of resources the opportunity cost is to have a new car.]]> 2017-09-26 16:24:40 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191341510 My name is Nur Syazwani Bt Baharing from AM1102 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191342457 The production possibility curve (PPC) is defined as a curve that shows the maximum combination of two goods that an economy can produce with its existing or available resources and level of technology. There are three basic economic concepts namely scarcity, choice and opportunity cost.

Scarcity occurs when human desires exceed what they can really afford to have owing to their limited resources available. Therefore, limited resources with unlimited human desires result in scarcity. For example, Siti cannot afford to pay the full amount to buy what she wantsand thus eill not be able to buy it. This phenomenon creates scarcity.

Next, choice. In the existence of scarcity, humans need to choose one or only the best among numerous options in order to maximize their satisfaction owing  to their limited resources. Therefore, only one or some of the options can be attained. The choice can be made by comparing the benefits or costs between the alternatives.

Lastly, opportunity cost. Opportunity cost is defined as the number of goods that has to be forgone in order to make the best choice. In other words, opportunity cost happens as a result of scarcity and thus requires humans to select only the best among numerous options based on better satisfaction factors that fulfill the needs greatly.]]> 2017-09-26 16:26:24 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191342457 Assalamualaikum. My name is Aina Batrisyia Binti Harilnizam from AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191345868 The production possibilities curve(PPC) is used to explain the basic economic concepts of scarcity, choices and opportunity cost. The PPC shows the various possible combinations of goods and services produced within a specified time with all its resources (labour, land and capital) fully and efficiently employed.

Basic economic concepts divide by three which is scarcity, choice and opportunity costs. First of all is scarcity. Scarcity is defined as the resources available are not enough to meet all wants. Human wants always exceed the availabe resources. Example is a firm cannot produce all goods due to lack of technology and labors and an individual cannot buy all desired goods and services because his income is limited. Scarcity is forever problem faced by everyon and every nation in the world. Due to the scarce resources, people are forced to make choice in order to fulfill their satisfaction.

Next concept is choice. People have to choose in how to dustribute the limited economic resources to produce the most important goods and services. Choice can be defined as making comparison among the existing alternatives. In order to make a choice, people have to consider the benefits and costs of each alternative. It is very imporant to choose the best alternative to overcome wastage. Such as witg limitation of income, an individual has to choose either to buy new house or new car in order to maximize his utilization and due to limitation of land a producer needs to choose whether to plant palm oil or rubber tree to maximize profit. 

Last but not least is opportunity cost. Since we cannot have everything that we desire due to scarcity, there will be something that we have to forgo. Opportunity cost is something ghat you need to let goin order to get something else. This is what can be called the second best alternative forgone once choice is made. For example if the person decided to buy a new house, with limitation of resources the opportunity cost is to have a new car. And if the producer decided to plant a rubber tree, the second best alternative forgone is to plan palm oul in the same land. ]]> 2017-09-26 16:32:52 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191345868 My name is Nur Amal Nashriq Bin Noor Khairol Anuar from AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191349412 The production possibility curve (PPC) or Production Possibilties Frontier (PPF) is defined as a curve as a shows the maximum combination of two goods that an company can produce with its existing or available resources and level of technology. The PPC can be drawn using four basic assumptions. The assumptions is :
i. The economy produces only two types of goods
ii. The level of technology is constant
iii. Fixed factor of production
iv. The economy is operating at the full level of employment (factors of production are used efficiently and are fully utilized)

PPC aslo have three basic economy concepts which is scarcity, choices, and opportunity cost.

Scarcity occurs when human desires exceed what they can really afford to have owing to their limited resources available. Therefore, limited resources with unlimited human desires result in scarcity. 

Choice is the existence of scarcity, humans need to choose one or only the best among numerous options in order to maximize their satisfaction owing to their limited resources factor. Therefore, only one or some of the options can be attained. The choice can be made by comparing the benefits or costs between the alternatives.

Opportunity cost is defined as the numbers of goods that has no to be forgone in order to make the best choice. In other words, opportunity costs can happens as a result of scarcity and thus requires humans to select only the best among numerous options based on better satisfaction factors that fulfill the needs greatly.

]]> 2017-09-26 16:39:19 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191349412 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191349989 j]]> 2017-09-26 16:40:18 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191349989 my name is shariza binti abdul shukor from AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191350206 The production possibilities curve (PPC) is used to explain the basic economic concepts of scarcity, choices and opportunity cost. The ppc shows the various possible combinations of goods and service produced within a specified time with all its resources fully and efficiently employed. 

scarcity, choices, and opportunity cost are the most important concept in economic. scarcity can defined as wants are always exceeding limited resources to satisfy them and it is a universal problem faced by poor and rich nations in order to fulfil their needs. next is choices. when there is scarcity, choices have to be made. finally is opportunity cost it can defined the cost of one choice in terms of the forgone alternative. for examples
 ]]> 2017-09-26 16:40:41 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191350206 my name is Layla Karmila binti Refli from AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191350301 Production Possibility Curve is a curve that shows various combination of two goods that the economy can produce given limited amount of resources and certain level technology. The assumptions in constructing PPC are firstly is only two goods can be produced. Secondly is the resources available are fixed interm of quality and quantity. Thirdly is the technology used is fixed . Last but not least is full employment of resources and productive efficiency. In addition theres have three basic econimc concepts. The first one is scarcity which is defined as the resources available are not enough to meet all wants. For examples a firm cannot produce all goods due to lack of technology and labors. Next is choice which is defined as making comparison among existing alternatives. For example with limitations of income, an individual has to choose either to buy new house or new car in order to maximize his utilization. Lastly is opportunity cost which defined as something that u need to letgo in order to get something else. This is what can be called the second best alternative gorgone once choices are made. As for example, if the producer decided to plant a rubber tree the second best alternative forgone is to plan palm oil in the same land.]]> 2017-09-26 16:40:54 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191350301 My name https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191381168 2017-09-26 17:32:54 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191381168 My name is nur zahirah binti md suib from AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191381423 The production possibilities curve (PPC) is used to explain the basic economic concepts of scarcity, choices and opportunity cost. The ppc shows the various possible combinations of goods and service produced within a specified time with all its resources fully and efficiently employed. 

scarcity, choices, and opportunity cost are the most important concept in economic. scarcity can defined as wants are always exceeding limited resources to satisfy them and it is a universal problem faced by poor and rich nations in order to fulfil their needs. next is choices. when there is scarcity, choices have to be made. finally is opportunity cost it can defined the cost of one choice in terms of the forgone alternative.
 ]]> 2017-09-26 17:33:18 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191381423 My name is effa nabilah binti mohd rashul from AM1102 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191960751 The production possibility curve (PPC) or Production Possibilities Frontier (PPF) is defined as a curve that shows the maximum combination of two goods that an economy can produce with its existing or available resources and level of technology. Scarcity occurs when human desires exceed what they can really afford to have owing to their limited resources available. therefore limited resources with unlimited human desires result in scarcity. In the existence of scarcity human need to choose one or only the best among numerous option in order to miximize their satisfaction owing to their limited resources. therefore only one or some of the option can be attained. the choice can be made by comparing the benefits or costs between the alternatives. opportunity cost is defined as the number of goods that has to be forgone in order to make the best choice. in other words, opportunity cost happens as a result of scarcity and thus requires humans to select only the best among numerous options based on better satisfaction factors that fulfill the needs greatly]]> 2017-09-28 07:49:43 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/191960751 My name is nadia arissa binti ruslan from AM1102 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192118722 The production possibility curve (PPC)  or Production Possibilities Frontier (PPF) is defined as a curve that shows the maximun combination of two goods that an economy can produce with an existing or available resources and level of technology. scarity is defined as the resources available are not to meet all wants.in the other word, human want always exceed the avalaible resources.for example, a firm cannot produce all goods due the lack of technology and worker.]]> 2017-09-28 15:08:29 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192118722 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192307895 I ]]> 2017-09-29 01:15:25 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192307895 My name is Masturah Binti Zakariah. From AM1102E https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192311333 The production curve (PPC) is a curve that shows various combinations of two goods that the economy can produce given limited amount of resources and certain level of technology.

Scarcity is defined as the resources available are not enough to meet all wants. In other word, human wants always exceed the available resources.For example, a firm cannot produce all goods due to lack of technology and labors or an individual cannot buy all desired goods and services because his income is limited.

Choice can be defined as making comparison among the existing alternatives. For example, a producer needs to choose whether to plam oil or rubber tree to maximize profit.

Opportunity cost is something that you need to let go in order to get something else. For example, if the person decided to buy a new house, with limition of resources the opportunity cost is to have a new car.

Basic economic concepts explain about scarcity, choice, and opportunity costs. PPC is a curve that shows various combinations of two goods that the economy can produce given limited amount of resources and certain level of techonology.

Assumptions in constructing PPC
1) Only two goods can be produced.
2) The resources available are fixed in term of quantity and quality.
3) The technology used is fixed.
4) Full employment of resources and productive efficiency.




]]> 2017-09-29 01:38:22 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192311333 Assalamualaikum, my name is Annur Sabrina Binti Hasnul Amri. From AM1102E. https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192346871 The production possibility curve (PPC) is a curve that showcases combination of two goods that an economy can produce in a limited amount of resources. 

The PPC can be related to scarcity, choice and opportunity cost.]]> 2017-09-29 07:10:06 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192346871 Assalamualaikum, my name is Aliyyah Mohd Isa from AM1102 https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192348960 The production possibilities curve is defined as a curve that shows the maximum combination of two goods that an economy can produce using scarce resources and level of technology. Scarcity, choices and opportunity costs are important to the economic structure.]]> 2017-09-29 07:20:54 UTC https://padlet.com/hafisah1981/ridlrjlf5spe/wish/192348960