Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

WCU Live Micro: PPC

No description
by

Thomas Andrews

on 12 September 2018

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of WCU Live Micro: PPC

Thomas P. Andrews
Microeconomics
Production Possibilities

Production Possibilities
PPC Defined
Maximum production
Any two goods
Current resources
Current technology
Attainable
Unattainable
Moving the point, not the curve
Efficiency (Inefficiency)
{
Opportunity cost
Shifting the curve
Change

Practice
Land, Labor, Cattle,
Capital
Norway
Land, Labor,
Capital
USA
Draw a PPC to illustrate the main idea potrayed in the video.
What is the main idea?
Second example
PPC Process
1. Set up the PPC
Label goods
list resources
label economy
Pick a point
2. Show change (move point / shift curve)
3. Address the efficiency implications
Amish Mafia: "Green Corn"
First Example
Migrant workers: How do they help?
What if they left?
Butter
"Not enough"
Productive
Inefficiency
Allocative inefficiency
Fish
A.E.&
P.E.
What's Next?
Demand
written HW
Not Likely
Goods and Resources
Terms
Goods
Resources
Excludable
Private Goods
Practice
Rival
Public Goods
Private Resources
(bads)
Private v Public
Public resources
Make a table of:
Goods, Bads, Resources
BAD
"Too much"
Scarcity and Abundance: Part II
Full transcript