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Students will draw and explain a production possibilities curve and how it is a accurate model of how resources are distrbuted.
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
what does a straight line production possibilities frontier represent? what does a bowed outward PPF represent?
Essentially, they are the same. Both are representations of the production possibilities. Usually when the curve is straight, it can be an indicator that opportunity costs is constant (i.e. for every unit of good A that is added means a loss of 2 units of good B). But it really depends on the graph was set up. Hope this helps
what does a straight line production possibilities frontier represent? what does a bowed outward PPF represent
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