Production Possibility Frontier
The concept describes the importance of understanding the production possibility frontier (PPF) - an essential concept in economics. It provides an overview of the concept, as well as case study evidence and step by step guidance on how to illustrate the PPF in graphical form.
Production Possibility Frontier Definition
The Production Possibility Frontier (PPF) is a graph that shows the various combinations of output that an economy can possibly produce given the amount of resources it has available and the current production technology firms use to transform those inputs into outputs (Mankiw, 2009). It is the graphical representation of scarcity since it shows an economy has restricted production possibilities (Srinivas & Sutz, 2008).
Production Possibility Frontier Description *
* The full technique overview is available for free. Simply login to our business management platform, and learn all about Production Possibility Frontier.
Production Possibility Frontier Strengths *
Production Possibility Frontier Weaknesses *
Examples of Production Possibility Frontier *
* The business evidence section is for premium members only. Please contact us about accessing the Business Evidence.
Production Possibility Frontier Implementation *
Success Factors of Production Possibility Frontier *
Measures of Production Possibility Frontier *
* The business application section is for premium members only. Please contact us about accessing the Business application.
Production Possibility Frontier Videos *
Production Possibility Frontier Downloads *
* The professional tools section is for premium members only. Please contact us about accessing the professional tools.
Production Possibility Frontier Web Resources *
Production Possibility Frontier Print Resources *
Production Possibility Frontier References (4 of up to 20) *
- Afonso, A., St. Aubyn, M. (2010) Public and Private Inputs in Aggregate Production and Growth, European Central Bank, Working Paper Series, Feb, No. 1154, 1-38.
- Almeida, I (2011) Brazil Crop Delays to Support Sugar Price, Morgan Stanley Says, Bloomberg, available at: http://www.bloomberg.com/news/2011-04-11/brazil-crop-delays-to-support-sugar-price-morgan-stanley-says.html
- Bloom, D., Canning, D., Chan, K. (2006) Higher Education and Economic Development in Africa, Harvard University, available at: http://www.arp.harvard.edu/AfricaHigherEducation/Reports/BloomAndCanning.pdf
- Huffington, A. (2010) Guns vs. Butter 2010, The Huffington Post, April 22, available at: http://www.huffingtonpost.com/arianna-huffington/guns-vs-butter-2010_b_548620.html
* The further reading section is for premium members only. Please contact us about accessing the further reading.
Learn more about KnowledgeBrief Manage and how you can equip yourself with the knowledge to succeed on Production Possibility Frontier and hundreds of other essential business management techniques