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Explain opportunity cost and ppc

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Explain opportunity cost and ppc

Posted by Khushi Jain 7 years, 6 months ago

CBSE > Class 11 > Economics

2 answers

Sakshi Sharma ??️??️??️ 7 years, 6 months ago

OPPORTUNITY COST IS THE COST OF NEXT BEST ALTERNATIVE FORGONE AND PPC IS GRAPHICAL REPRESENTATION OF COMBINATION OF TWO GOODS WHICH AN ECONOMY CAN PRODUCE WITH GIVEN RESOURCES AND TECHNOLOGY.

Syed Khabib 7 years, 6 months ago

Opportunity cost is the factor value in its next best alternative use. Ppc is a combination of 2 goods which can be achieved with in the given resources and technology.

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