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Intro to the production possibilities frontier (PPF)
📝 My Notes
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Intro to the production possibilities frontier (PPF)
6:45
About this lesson
- All possible choices of production
- Limits to the production of two goods
- Key Ideas
- Production efficiency and product inefficient
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Video 1 of 14
Intro to the production possibilities frontier (PPF)
7 min
• Selected
Understanding opportunity cost as a ratio along the PPF
3 min
Plotting a production possibilities frontier for pops and bananas
2 min
Finding banana production for efficiency at 11 pops per day
1 min
Identifying productively inefficient points on the PPC
1 min
Finding the trade-off of one more banana from an interior point
2 min
Drawing a PPF for a business producing cars and tires
3 min
Finding tire production for efficiency at two cars per day
1 min
Identifying productively inefficient points below the PPF
1 min
Identifying an unattainable point outside the PPF
1 min
Calculating opportunity cost per car from a production table
3 min
Calculating opportunity cost per tire when increasing production from 10 to 19
2 min
Identifying the reciprocal relationship between opportunity costs
1 min
Determining if there is an increasing opportunity cost of cars
3 min