The Production Possibilities Frontier (PPF) Model

The Production Possibilities Frontier (PPF) Model - The...

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Unformatted text preview: The Production Possibilities Frontier (PPF) Model Econ 1021 Fall 2009 Trade-offs & Opportunity Costs Reading: pp. 28-34 from Macroeconomics in Context Defining the Production Possibilities Option Pizzas Computers A 150 B 20 140 C 40 120 D 60 90 E 80 50 F 100 0 20 40 60 80 100 Quantity of Pizzas 30 60 90 120 150 Quantity of computers A B C D E F The curve represents the Production Possibilities Frontier (PPF) The PPF allows us to illustrate the following concepts: scarcity efficiency trade-offs & opportunity cost economic growth 20 40 60 80 100...
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This note was uploaded on 12/03/2010 for the course ECON 1021 taught by Professor Lang during the Spring '10 term at UChicago.

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The Production Possibilities Frontier (PPF) Model - The...

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