Question : If "PP" of "PPF" in Microeconomics is "Production Possibility", then "F" stands for:
Option 1: Finance
Option 2: Fund
Option 3: Failure
Option 4: Frontier
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Correct Answer: Frontier
Solution : The correct answer is Frontier .
In Microeconomics, PPF stands for Production Possibility Frontier. The PPF is a curve in business analysis that shows the variations in the quantities that can be generated from two goods if both depend upon the same finite resources for their production. The shape of the PPF depends on whether they are increasing, decreasing or at constant costs.
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