'Production possibilities frontier ppf' diaporamas de présentation

Dr. KWONG Che-leung 30 Nov 2012

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Chapter 1: The Economic Way of Thinking

Chapter 1: The Economic Way of Thinking. The Economic Problem Production Possibilities Economic Analysis. Got stuff?. Who made it? How was it made? How did you get it?. I. The Economic Problem. the basic economic problem is scarcity : -- wants are unlimited, but resources

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Managerial Economics - Lecture 1 Dr. Abdullah Alharbi

Managerial Economics - Lecture 1 Dr. Abdullah Alharbi. Introduction:. Basic Concepts of Economics. Definition of Economics. All economic questions arise because we want more than we can get. Our inability to satisfy all our wants is called scarcity .

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ECON

Micro. ECON. McEachern 2010-2011. 2. CHAPTER. Economic Tools and Economic Systems. Designed by Amy McGuire, B-books, Ltd. Choice and Opportunity Cost. Scarcity Make a choice Pass up another opportunity Opportunity cost The value of the best alternative forgone Opportunity lost

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Chapter One Homework

Chapter One Homework. Numbers 4, 6, and 8. Appendix for Chapter 1. Graphing and Algebra Review. Figure 1A.4 The Effect of a Change in Intercept on the Curve. Figure 1A.5 The Effect of a Change in Slope on the Curve. Figure 1A.6 Lines with Zero and Infinite Slopes.

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FINA251 Fundamentals of Microeconomics Week 3 2016

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The Production Possibilities Frontier

The Production Possibilities Frontier. Introduction. The Production Possibilities Frontier (PPF) is a graph that shows all possible combinations of two goods when an economy is producing at full potential. It does not actually show reality, since it assumes only two goods are produced.

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Interdependence and the Gains from Trade

Interdependence and the Gains from Trade. A Parable for the Modern Economy. Only two goods Meat Potatoes Only two people Rancher Farmer. A Parable for the Modern Economy. If rancher (R) produces only meat and farmer (F) produces only potatoes

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Production Possibilities Frontier (PPF)

Production Possibilities Frontier (PPF). The production possibilities frontier illustrates concepts of : Scarcity - resources are limited. Choice - choices in the production of different goods need to be made. Opportunity cost - to gain more of a good, something else must be given up. .

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