Principles of Microeconomics / Unit 17 MIC 1602 short lesson, about 20 seconds
The Frontier
Captions available
The idea
The frontier draws opportunity cost: its slope is what one good costs in the other. It bows outward because resources are specialized, so each extra unit costs more; a straight line assumes constant cost. Growth shifts it out.
In practice
Trade moves consumption beyond it; nothing moves production beyond it.
Where people slip
Inside is attainable and inefficient; outside unattainable; on it, productively efficient.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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