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Rotation of Production possibility curve

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 Rotation of Production possibility curve: PPC can rotate in following circumstances. 1-Improvement in the technology in the favour of good -X : If there is an improvement in the technology in favour of goods -X then the production of goods-X raise on that the particular resources but production of goods-Y remains the unchanged accordingly PPC rotates. Fig-6 Before the improvement in technology in the favour of goods-X the PPC is ab but after improvement it rotates and be ac. 2-Improvement in the technology in the favour of good -X :  If there is an improvement in the technology in favour of goods -Y then the production of goods-Y raise on that the particular resource but production of goods-X remains the unchanged accordingly PPC rotates. Fig-7 Before the improvement in technology in the favour of goods-Y the PPC is  ab  but after improvement it rotates and be  ac. Note: If any technical improvement done in favour of both goods then PPC will shift, not rotate....
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Introduction to Economics

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  Economics : It is that branch of knowledge in which those activities of human beings are studied which they undertake to acquire scarce means to satisfy their unlimited wants. It is the rational management of scarce resources at optimum level. Resource is anything which is useful to satisfy the human wants,but it is technologically accessible,economically feasible and culturally acceptable. In Economics resources are means to production(Land,Labour , Capital, Entrepreneur). Characteristics of resources in Economics: 1- It is scarce in nature. Like land etc 2- It has alternative uses. Like we can use land for farming or living. 3-Human wants are unlimited for resources. Like we want enough land on which we can produce everything as well as we live comfortably. The above three factors leads to choice,thus scarcity and choice is the essence of Economics. Branches of Economics 1-Micro Economics 2-Macro Economics 1-Micro Economics: It is that branch of economics which deals with econ...
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Attainable and unattainable combinations of PPC.

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 Attainable and unattainable combinations of PPC : Those combination which are lie either on PPC or the inside of PPC are called attainable combinations, but those combinations which are lie outside the PPC are called unattainable combination of PPC.  Figure-2 In the figure-2, A,B,C& Z are attainable combinations of PPC, where combinations A,B,C offer fuller utilisation of resources but combination Z offers underutilisation of resources, while on the other hand combination K is unattainable combination. For more detail: please watch this video ,subscribe #vc official on youtube.
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