Definitions for "Production Possibilities Frontier"
A table or graph that shows the full employment capacity of an economy in the form of possible combinations of two goods, or two bundles of goods, that could be produced with a given amount of productive resources and level of technology.
The boundary between the combinations of goods and services that can be produced and the combinations that cannot be produced, given the available factors of production and the state of technology. (p. 56)
A curve showing all alternative combinations of goods that can be produced when available resources can be used fully and efficiently.