Production Possibilities Curve

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Course Goals:

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Understand the effects of scarcity, which is demonstrated by the production possibilities curve.
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Understand the significance of resources and their use.
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Describe the meaning of a country’s Production Possibilities Curve Shape and also shifts in the Production Possibilities Curve.
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Explain the meaning of the word “cost” in its various forms (opportunity cost, average cost per unit and marginal cost).
Course average duration :
4 Hours
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Overview
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The production possibilities curve (PPC) demonstrates the effects of scarcity, which exists to some degree in every country. This course provides you with the tools needed to understand the production possibilities curve and to learn to distinguish between different situations with a shift in the production possibilities curve. This course is presented in a simple and easy to use format, using illustrations, animations and examples suitable for those with little to no prior knowledge or experience with the subject matter.
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