PRODUCTION POSSIBILITIES CURVE (PPC)
The production possibility curves (PPC) show the maximum combination on goods that can be produced given the available factor of production and techonolgy of product.
#3 assumptions to build the ppc
- limited factor of production
- economies have achieve level of full employment
- there are only two goods will be produce
>>more info about ppc
ECONOMIC SYSTEMS
- Free market economy an economy system operated without the government intervention.
- Command economy an economy that is fully controlled by the goverment
- Mixed economy an economy system which is controlled partly by government and partly by market.
- Islamic economy economy which uses Allah's creation in most efficient way based on Islamic laws.
