Unit 1 - Production possibilities curve (PPC)

0.0(0)
Studied by 0 people
call kaiCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/4

flashcard set

Earn XP

Description and Tags

part 1

Economics

IB Economics (HL)

Introduction to economics

Last updated 9:47 PM on 5/26/24
Name
Mastery
Learn
Test
Matching
Spaced
Call with Kai

No analytics yet

Send a link to your students to track their progress

5 Terms

1
New cards
<p>assumptions</p>

assumptions

time FOP tech are fixed

2
New cards

The PPC illustrates

choice and opportunity cost of the choice

3
New cards
<p>D</p>

D

decision made and maximum constant efficiency

4
New cards
<p>B → C</p>

B → C

allocation of resources changes

5
New cards

B → C opportunity cost

loss/gain