Production possibilities

Tyler can cook in 30 mins & do laundry in 90 mins. Sam can cook in 40 mins & laundry in 80.

Which is not a reason why the curve would shift outward?

Which is not a reason why the curve would shift inward?

America can produce 12 trucks and 20 cars. China can produce 15 trucks & 25 cars.

Which is a reason for inefficiency?

What happens to the curve if there is a boost in population?

Which of the following is a factor of production?

What is the point that is on the curve?

Tyler can cook in 30 mins & do laundry in 90 mins. Sam can cook in 40 mins & laundry in 80.

What does scarcity lead to?

America can produce 12 trucks and 20 cars. China can produce 14 trucks & 25 cars.

Vel makes 12 dresses & 4 coats. Amy makes 18 dresses & 9 coats.

Beyonce makes 100 songs and 10 albums. Rihanna makes 50 songs and 4 albums

What is the study of economics?

Which category does comparative advantage fall under?

What is absolute advantage?

What happens to the curve if there is a rise in unemployment?

Jane gets a burger. If she doesn’t, she will get the steak. If they run out of steak, chicken.

Tyler can cook in 30 mins & do laundry in 90 mins. Sam can cook in 40 mins & laundry in 80.

Which is not a factor of production?

Where does the efficient point belong?