Solving the economic problem GapFill

A production possibility curve (PPC) is also known as a production possibility  outputlinescheduleboundary . It shows the maximum   incomeprofitoutputresources that an economy can produce with its given resources. All points on the PPC show   unattainableefficientallocativeinefficient allocation of resources. This is because they satisfy the   paretoceteris paribusdesiredmaximum optimality condition. Points outside the PPC are  unattainableidleinefficientattainable; they can only be attainable when the economy experiences economic  declinerecoverygrowthstagnation.   Capitalist economyCommand economyMixed economy Free market economy is an economic system where all resources are owned by the state. A free market economy, also known as   invisible handmixed economy price mechanism laissez faire , is an economic system where there is private ownership of resources. The price  control mechanism invisible handfreeze allocates resources. In an economy, money performs four main  barter tradesfunctionscharacteristicsmediums of exchange.