Production Possibilities Frontier:
The production possibilities frontier or
Consumption goods:
These are the final goods that are consumed by consumer for which he or she derives satisfaction or utility;
Capital goods:
These are goods that are used in producing other goods, rather than bought by consumers. These serve as intermediate goods that help in the production process.
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Mylab Economics With Pearson Etext -- Access Card -- For Economics Today: The Micro View
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