Answer :
PPC1 illustrates increasing opportunity costs and PPC2 illustrates constant opportunity costs.
PPC1 indicates a decreasing opportunity cost and PPC2 indicates a constant opportunity cost. The shape of the PPC demonstrates the nature of the opportunity costs associated with production. The Internet and radio stations are examples of non-competing products. Many people can access them at the same time and consume them again and again without compromising quality or risking running out of stock.
A decline in capital and labor the key elements of production will lead to a decline in the economy's productive activity, which will lead to lower output levels and lower economic growth, resulting in an inward shift in the economy. leads to PPF. The main causes of economic scarcity are demand-induced, supply-induced, and structural. Demand induction is when supply stagnates and demand increases.
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