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 production possibilities curve PPC is an economic model that shows the production efficiency and allocation possibilities of the economy for a given level of resources. More specifically, it describes a society's trade-off between two goods or services or two types of goods and services.