Lesson over Production Possibilities Frontier
Complete the following lesson to gain a better understanding of the PPC and its applications in economics. Use slides 3-14 for notes over the production possibilities curve.
1. Define a production possibilities frontier (curve).
2. Draw a PPC demonstrating what a point on, inside and outside of the curve represents.
3. Explain the difference between a bowed out PPC and a straight line PPC.
Explanation of Production Possibilities Curve.
Source: You Tube
Source: You Tube
