The correct answer is - Production Possibilities Schedule.
The production possibility schedule shows the possible production of two goods with the available limited resources.
Production Possibility Schedule
- It helps in deriving the Production Possibility Curve.
- It represents the possible combinations of production of two goods that can be made with respect to the available resources.
- It also depicts that due to limited resources, the economy will have to give up the production of one product in order to sustain the production of another product.
- Thus, the assumption it considers is that the increase in the production of one good leads to decrease in the production of other commodity.
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