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The Production Possibilities Frontier (PPF) in Economics
Presentation
•
Social Studies
•
10th - 12th Grade
•
Medium
Matt Kudlacz
Used 17+ times
FREE Resource
7 Slides • 6 Questions
1
SWBAT apply economic thinking to explain how people decide what to make or produce.
2
National economies have limited resources to produce goods to sell on the market
These limited resources could be labor, materials or even modes of production
The science of economics has a tool for choosing between the production of two goods during a certain period of time called the production possibilities frontier (PPF)
3
A nation could analyze its potential food production compared to its production of weapons of mass destruction in an attempt to answer the question: how can we maximize our resources?
4
5
6
Poll
Which do you prefer – yeast donuts or cake donuts?
Um, what's the difference? Who's buying?
7
8
9
Fill in the Blanks
If Jeremy makes 36 cake donuts per hour, how many yeast donuts could he produce?
Type answer...
10
Fill in the Blanks
What's the opportunity cost of 36 cake donuts in yeast donuts?
Type answer...
11
Multiple Choice
A PPF shows...
The best combination of goods to produce
What can be produced with various combinations of resources
The plans for increasing output in the short run
Resources are constrained by choices
12
Multiple Choice
Which of the following are assumptions underlying the PPF?
All of the above
Technology, population, and capital are variable
Prices determine the position on the PPC
Only two goods are produced
13
Multiple Choice
Efficiency along the PPF curve implies...
To get more of a good, some of another must be given up
Goods are produced quickly
The state of technology is maximized
Goods are distributed equitably
SWBAT apply economic thinking to explain how people decide what to make or produce.
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