What is a graphical representation of the combination of goods and services that can be produced in a situation?

It is the production possibilities curve of an economy.

To satisfy human needs and desires, we need goods that we do not find in nature, so we use the process of transformation to acquire them. Production is made from resources and productive factors such as natural resources, labor, capital and technical knowledge. However, all these resources are limited, so that society has to choose the quantities of goods and services that will be produced. This can be illustrated graphically by means of the production possibility curve.

The production possibility curve graphically illustrates how the scarcity of inputs creates a limit on the productive capacity of a company, country or society. It represents all production possibilities that can be achieved with existing resources and technologies.

john maynard keynes developed new economic theories in response to the stock market crash of 1929. great depression of the 1930s. first and second world wars. economic boom of the 1950s.