1.4 Production possibility curve (PPC) diagrams

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Production possibility curve (PPC) diagrams 

Syllabus Objectives

Topics:

  • 1.4.1 definition of PPC
  • 1.4.2 points under, on and beyond a PPC
  • 1.4.3 movements along a PPC
  • 1.4.4 shifts in a PPC

Guidance

  • Definition, drawing and interpretation of appropriate diagrams.
  • The significance of the location of production points.
  • Movements along a PPC and opportunity cost.
  • The causes and consequences of shifts in a PPC in terms of an economy’s growth.

Revision Notes

Note:

 

  • The video is  a preview of our revision notes
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