'Production possibilities curves' presentation slideshows

Introduction to Economics and Opportunity cost

Introduction to Economics and Opportunity cost. Unit # 1. Definition of Economics.

299 views • 29 slides

Production Factors and the PPF

Production Factors and the PPF. Factors of Production. Factors of production are resource inputs used to produce goods and services. These are: Land Labor Capital. Land. Land refers to all natural resources such as crude oil, water, air, climate, sea coasts and minerals.

487 views • 21 slides

Chapter 2

Chapter 2. Resource Utilization. The Central Fact of Economics: SCARCITY. Scarcity Resources are the things society uses to produce goods and services These resources are scarce (limited) The economic problem

472 views • 18 slides

Unit 1: The Nature and Importance of Economics

Unit 1: The Nature and Importance of Economics. Outline. Review of Chapter 1 5 Key Principles of Economics Principle of Opportunity Cost Production Possiblities Marginal Principle Marginal Benefit vs Marginal Cost Remaining Principles Principle of Diminishing Returns

523 views • 15 slides

Bell Ringer

Bell Ringer. How do needs and wants lead to scarcity? Describe how each factor of production helps to create a good. Why are trade-offs and opportunity costs examined when making a decision?. Production Possibilities Curves.

234 views • 13 slides

What is the empty wallet syndrome?

251 views • 11 slides

Production Possibilities Curves

383 views • 10 slides

AP Economics

203 views • 8 slides