Reffonomics.com

Production-Possibilities Curve, Part I

Production-Possibilities Curve I nteractive Table and Graph

P roduction-Possibilities Curve Increasing Cost PPC Activity

Constant Cost vs. Increasing Cost PPC (3:02 minutes)
Points on the PPC (2:17 minutes)
Shifts in the PPC (3:21 minutes)

1.2 Production-Possibilities Curve

Unit 1: Basic Economic Concepts

Steven M. Reff
Economics Lecturer
University of Arizona
(2007 - 2016)
The 2015 University of Arizona
Five-Star Faculty Award

1.1 Scarcity, Choice, and Opportunity Cost (1 to 2 hours)

Introduction to Economics (2:23 minutes)
Trade Offs and Opportunity Cost (2:23 minutes)
Economic Systems (3:10 minutes)

Terms in Economics

9 hours - 11 hours max.

12% - 15% of exam

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Basic Economic Concepts (12%–15%)

• Topic 1.1   Scarcity, choice, and opportunity costs
• Topic 1.2   Production possibilities curve
• Topic 1.3   Absolute advantage, comparative advantage, specialization, and trade
• Topic 1.4   Demand, supply, and market equilibrium
• Topic 1.5   Determinants of supply and demand
• Topic 1.6   Consumer and Producer Surplus
• Topic 1.7   Price controls (price ceilings, price floors, and tariffs)

Introduction to Economics

eVideos -- Short Videos:

eWorkbook Activities Interactive:

eTextbook Reading:

(3 min. or less, along with 3 multiple choice questions)

eVideos -- Short Videos:

eWorkbook Activities Interactive:

eTextbook Reading:

Production-Possiblities Frontier (10 Questions)

Production-Possiblities Frontier (12 Questions)

Production-Possiblities Frontier (14 Questions) (Movable PPF Graph)

Reffonomics Baseball Basic Concepts (Units 1 and 2)

Production-Possibilities Frontier (Silent Movie)

Production-Possiblities Frontier (Absolute and Comparative Advantage)

Production-Possiblities Frontier (Terms of Trade)

Production-Possiblities Frontier (14 Questions) (Drawable PPF Graph)

Lesson 4: Production-Possibilities Frontier (Part II)

Lesson 5: Production-Possibilities Frontier (Part III)

25 Questions Multiple Choice Test on Production-Possibilities Frontier

40 Questions Multiple Choice Test on Week 1 and Week 2

PPF, Part I (Constant Cost vs. Increasing Cost PPF)

PPF, Part II (Points on the PPF Graph)

PPF, Part III (Absolute and Comparative Advantage)

PPF, Part IV (Good Terms of Trade and Consumption Possibilities)

PPF, Part V (Bad Terms of Trade and Consumption Possibilities)

PPF, Part VI (Output vs. Input Question)

PPF, Part VII (Shifts of the PPF)

1.3 Comparative Advantage, Specialization, and Trade

eVideos -- Short Videos:

eWorkbook Activities Interactive:

eTextbook Reading:

Multiple Choice Test (25 Questions)

Post Hoc Fallacy and Fallacy of Composition

Current Event: The Difference Between Scarcity and Shortage

Multiple Choice (10 Questions)

TEST YOURSELF 1.1:

TEST YOURSELF 1.4:

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CLEP® Principles of Macroeconomics Course Preparation

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