Production Possibility Frontier Ppf
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Production possibility frontier - In economics, the production possibility frontier (the PPF, also called the production possibilities curve (PPC) or the “transformation curve”) is a graph that depicts the trade-off between any two items produced. It indicates the opportunity cost of increasing one item's production in terms of the units of the other forgone.
Productive efficiency - Productive efficiency is when the economy is working on its production possibilty frontier (PPF). This is when production is achieved at the lowest cost possible, and is when Average Cost is at the lowest point on the AC curve.
Guns versus butter model - In economics, the guns versus butter model is the classic example of the production possibility frontier. It models the relationship between a nation's investment in defense and civilian goods.
Floating Production Storage and Offloading - A Floating Production, Storage and Offloading vessel (FPSO; also called a "unit" and a "system") is a type of floating tank system used by the offshore oil and gas industry and designed to take all of the oil or gas produced from a nearby platform (s), process it, and store it until the oil or gas can be offloaded onto waiting tankers, or sent through a pipeline. A FSO is a similar system, but without the possibility to do any processing of the oil or gas.
productionpossibilityfrontierppf
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