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This short lecture decribes in detail about the Production Posibility Curve (PPC) in Economics with Examples and diagram of Opportunity cost & the production possibilities curve, Production Possibility Frontier (PPF) in Principles of Economics.
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Production Possibility Curves – PPCs / PPFs. Detailed video covering everything you need to know about Production Possibility Curves – PPCs / PPFs
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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.
Need tutoring for A-level economics? Get in touch via enhancetuition@gmail.com.
In this video you’ll learn about the shape of the PPC.
Access http://www.physicsandmathstutor.com ‘s free comprehensive notes on the production possibilities curve here: https://pmt.physicsandmathstutor.com/download/Economics/A-level/Notes/CIE/Papers-1-2/1-Basic-Economic-Ideas-and-Resource-Allocation/e)%20Production%20possibility%20curves.pdf?utm_source=youtube&utm_medium=referral&utm_campaign=Enhance_Tuition
What happens to the Production Possibilities Curve when the underlying resources change?
“Episode 10: PPC and Resource Changes” by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
How do you use a graph to illustrate scarcity and choice? Watch this video on production possibilities to find out.
“Episode 7: Individual PPC” by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
This lesson shows the Production Possibilities model as it applies to a society’s decisions.
“Episode 9: Society’s PPC” by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
In this movie we go over how to draw a PPF (production possibilities frontier) given information on various points from a table. The trick here is to take all of the information from the table and plot it value for value on the graph. This will give you a PPF also sometimes called a PPC (production possibilities curve) that shows all different possible combinations of goods/services that are possible with the given inputs.
More information is available at: http://www.freeeconhelp.com/2011/06/how-to-draw-ppf-production-possibility.html where more information including a description and images are kept.
