Lesson Note 5.5: Methods for Estimating Project Times and Costs, 5 pts. This section in the textbook introduces a number of techniques. Do not focus on the details of each technique. Learn the terms and focus on understanding that a number of techniques fit the top-down category of estimating.
A productionâpossibility frontier (PPF) or production possibility curve (PPC) is the possible tradeoff of producing combinations of goods with constant technology and resources per unit time.
A point inside the PPF means that resources are not being used  efficiently. One or more resources (Land, labor, or capital) is  being waisted or not used to its potential. Understanding the production possibilities frontier allow business  to see where they need additional resources to maximize production.