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  1. APMICRO
  2. UNIT 1: Basic Economic Concepts
  3. 1.3 Production Possibilities Curve

1.3 Production Possibilities Curve

Completion requirements

MKT-1.C
a. Define (using graphs as appropriate) the production possibilities curve (PPC) and related terms.
b. Explain (using graphs as appropriate) how the production possibilities curve (PPC) illustrates opportunity costs, trade-offs, inefficiency, efficiency, and economic growth or contraction under various conditions.
c. Calculate (using data from PPCs or tables as appropriate) opportunity cost.

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