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Production Possibilities, Opportunity Cost, and Economic Growth

Production Possibilities, Opportunity Cost, and Economic Growth. C HAPTER. 2. T HE L INKS BETWEEN S CARCITY, C HOICE, AND O PPORTUNITY C OST. EXHIBIT 1. T HE P RODUCTION P OSSIBILITIES C URVE FOR M ILITARY G OODS AND C ONSUMER G OODS. EXHIBIT 2. EXHIBIT 3.

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Production Possibilities, Opportunity Cost, and Economic Growth

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  1. Production Possibilities, Opportunity Cost, and Economic Growth CHAPTER 2

  2. THE LINKS BETWEEN SCARCITY, CHOICE, AND OPPORTUNITY COST EXHIBIT 1

  3. THE PRODUCTION POSSIBILITIES CURVE FOR MILITARY GOODS AND CONSUMER GOODS EXHIBIT 2

  4. EXHIBIT 3 THE LAW OF INCREASING OPPORTUNITY COSTS

  5. AN OUTWARD SHIFT OF THE PRODUCTION POSSIBILITIES CURVE FOR COMPUTERS AND PIZZAS EXHIBIT 4

  6. ALPHA’S AND BETA’S PRESENT AND FUTURE PRODUCTION POSSIBILITIES CURVES EXHIBIT 5

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