Efficiency GapFill

A production possibility curve (PPC) is also known as a production possibility  boundary outputlineschedule. It shows the maximum   resourcesprofitoutputincome that an economy can produce with its given resources. All points on the PPC show   efficientallocativezerodesirable allocation of resources. Points outside the PPC are  attainableinefficientunattainableidle; they can only be attainable when the economy experiences economic  marginsgrowthrecessiondecline. A free market economy, also known as   socialist economycommunist economyinvisible handlaissez faire , is an economic system where there is private ownership of resources. The price  mechanism invisible handfreezecontrol allocates resources. In an economy, money performs four main  characteristicsbarter tradesmediums of exchangefunctions.