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Chapter 2 The Production Possibilities Frontier (curve)

Chapter 2 The Production Possibilities Frontier (curve)

Author: Matthew Lonn
Objective:

Students will draw and explain a production possibilities curve and how it is a accurate model of how resources are distrbuted.

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Tutorial

Production Possibilities Frontier

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.

Questions you should be able to answer after the lesson

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.

Chapter 2 Notes

Kahn Video over PPC

Production Possibilities Curve Explanation

Explanation of Production Possibilities Curve.

Source: You Tube

PPC in 60 Seconds

Source: You Tube

Questions and Answers

  • Answers 2
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    shoma hassan 6 months ago

    what does a straight line production possibilities frontier represent? what does a bowed outward PPF represent?

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    •  
      Mr. Johnson answered 5 months ago

      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

      Report
    •  
      shoma hassan answered 6 months ago

      what does a straight line production possibilities frontier represent? what does a bowed outward PPF represent

      Report
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