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\nAdvanced Concepts in Production Possibility Diagrams\n

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\nThis video lecture explains advanced concepts related to production possibility diagrams. It starts by providing a recap of what these diagrams are and the three sections they include. The speaker then introduces the concept of...\nThis video lecture explains advanced concepts related to production possibility diagrams. It starts by providing a recap of what these diagrams are and the three sections they include. The speaker then introduces the concept of productivity and explains how it can be used to expand the diagram's production possibilities frontier (PPF). The video also covers specific productivity changes and how they affect the PPF. Additionally, the lecture discusses the difference between consumer and capital goods and how labeling them can provide a deeper understanding of an economy's balance and trade-offs. Finally, the video concludes with a discussion of the opportunity cost of investing and its impact on consumption levels in the future.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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10:29
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Grade
12th - Higher Ed
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Subjects
Social Studies & History
3 more...
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Media Type
Instructional Videos
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Source:
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\nKnowMo Economics\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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economics, consumer goods, productivity, resources, consumption, economy
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Additional Tags

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a-level, lectures, micro, economic, problem, 1.3b, ppfs, (advanced, concepts), lecture presentation, capital goods, higher levels, productive capacity, good eggs, capital, goods, shift, higher, affect, point, produced, advanced, feasible, productive, represent, level, order, producing, decrease, produce, good, production, increase
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Classroom Considerations

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Best For: Explaining a topic
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