Answer:
The Production possibility Curve also known as Production Possibility Frontier PPF is the curve that depict the relationship in the production of 2 given goods in an economy e.g. Production of Wheat vs Production of cotton (See Image).
Explanation:
The curve basically shows 5 situations:
1. Point A: where all the production is devoted to Wheat
2. Point B: where all the production is devoted to Cotton
3. Points C: Any given point along the curve different to point A and B represent the trade off in the production of the 2 goods
4. Point D: Is an impossible point to achieve as it is outside the capabilities of the curve
5. Point E: Is an inefficient point of production as it is below the possibilities of production.