cricket_freak
New Member
Does anyone know what PP stands for in economics,
fanx,
cricket_freak
fanx,
cricket_freak
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Does anyone know what PP stands for in economics (1 Viewer)
- Thread starter cricket_freak
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underthebridge
Member
purchasing power, although i have not seen it abbreviated as PP before, unless you meant PPP which is purchasing power parity.
DanielleM
Member
Penetration pricing.
santaslayer
Active Member
Production Possibility. 
santaslayer is correct
PP stands for 'production possibility'
You will bump into the concept of the 'production possibility' curve at some stage. Basically it describes an economy's maximum level of output given a certain amount of resources.
Economic growth could be described as an outwards shift in the production possibility curve (an increased capacity to satisfy the needs and wants of the economy's members).
PP stands for 'production possibility'
You will bump into the concept of the 'production possibility' curve at some stage. Basically it describes an economy's maximum level of output given a certain amount of resources.
Economic growth could be described as an outwards shift in the production possibility curve (an increased capacity to satisfy the needs and wants of the economy's members).
underthebridge
Member
ahhh of course. I forget prelim quite easily it would seem.