When societies are using all available resources and technology most efficiently they are operating on the production possibilities curve.
The Production Possibility Frontier (PPF), also known as the Production Possibility Curve, depicts the expenses associated with a society's decision of selecting between two different commodities. Because it would be generating as much as it could be with its resources, an economy that is functioning at the limits of its curve or at the boundaries of its capacity does have the highest potential standard of living.
A graph called a production possibility curve (PPC) shows every potential combination of items that can be made using the available resources as well as technology. The PPC illustrates trade-offs and scarcity.
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