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In this video I explain how the production possibilities curve (PPC) shows scarcity, trade-offs, opportunity cost, and efficiency. This is the first graph you are going to learn in your economics class. Thanks for watching. Please subscribe.
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EconMovies explain economic concepts through movies. In this episode, I use Disney/Pixar’s Monsters Inc. to introduce the production possibilities curve. Good luck studying economics. Please subscribe. Snow cone?!
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This is a Video Lecture for B.Com, B.Com(H), M.Com, CBSE Class 11th Micro Economics on Micro Economics Introduction.
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In this video I explain how the production possibilities curve shifts when there is a change in resources or a change in technology. Understanding the general concept will help you understand the idea of economic growth, but keep in mind that a real economy is not this simple or predictable. The PPC just introduces these ideas, the details come later.
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Click here to watch Econmovies Episode 3: Monster Inc.
In this video I explain how the production possibilities curve (PPC) shows scarcity, trade-offs, opportunity cost, and efficiency. This is the first graph you are going to learn in your economics class. Thanks for watching. Please subscribe.
If you need more help, check out the Ultimate Review Packet for FREE
https://www.acdcecon.com/review-packet
