Principles of Microeconomics / Unit 1 MIC 0023 short lesson, about 20 seconds
The Production Possibilities Frontier
Captions available
The idea
A production possibilities frontier shows the combinations of two goods a society can produce with the resources and technology it has now.
In practice
Points on or inside the curve are attainable; points outside are not.
Where people slip
The slope of the frontier is the opportunity cost of the good on the horizontal axis, measured in units of the other good.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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