1.2 Production Possibility Curve

2 Production Possibility Curve

Open Ended

Throughout the entire semester, we will use graphs, charts etc to help us understand concepts. What are these called?

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The Production Possibility Curve (PPC) makes it easy to know when we are producing __________

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Your 2nd choice...the thing you gave up...

What's it called?

The LINE is the PPC. Any point ON the line is EFFICICIENCY.

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Any point UNDER the curve is _______

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Any point BEYOND the curve is _________

Multiple Select

What are 3 ways to achieve the point BEYOND the curve?

• new technology

• international trade

• additional resources

Multiple Choice

Any point on the curve represents ____

• efficiency

• waste

• future growth

Multiple Choice

Any point UNDER the curve represents ____

• efficiency

• waste

• future growth

Multiple Choice

Any point BEYOND the curve represents ____

• efficiency

• waste

• future growth