Production Possibilities Curve Review

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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[foxiroonie]

thank you for not giving up videos to make hats

[SabRinouch]

I love you. Seriously. My teacher needs a 50 slides powerpoint just to explain this, THANK YOU !!!

[anushamadhusudanan]

It’s my third week in Econ and you taught me what my teacher has been dragging out for THREE weeks in the first three minutes

[aaronrayk]

im convinced he does the funny parts because he knows were childish becus we cant grasp the material the first time in class 😂😂

[elitetech]

KEY TERMS IN THIS VIDEO:

1. Opportunity Cost
2. Scarcity
3. Trade-offs
4. Constant Opportunity Cost
5. Increasing Opportunity Cost -> When you use all your resources for one crop it will benefit, but not without the expense of the diminishing of the other crop.

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[malishalefave]

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[judykong]

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[angelscott]

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[ibissoooohard]

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[Sandmans.]

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[j]

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[katsa_p]

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