5 C Explain with examples how your graph shows 5 concepts opportunity costs

5 c explain with examples how your graph shows 5

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Explain what is happening at these points? (____/5) C.Explain, with examples, how your graph shows 5 concepts: opportunity costs, efficiency (both types), unemployment, the law of increasing opportunity costs, and economic growth. (____/11)3.Use the PPF-A and PPF-B on the back of this paper to answer the following:A.On PPF-A, what is the opportunity cost from point a to b in terms of guns? What is the PER UNIT OPPORTUNITY COST from moving from e to c? (____/5)B.On PPF-B, what is the opportunity cost from point a to b in terms of guns? What about moving from bto c? What generalizations can you make? (____/5)C.Which PPF shows increasing opportunity costs? Use numerical examplesto explain why? (____/5)4. Complete the handout entitled “ Microeconomics: Lesson 2, Activity 2” (____/10)5. The following figures represent the amount that can be produced with a fixed amount of factor inputs. ShirtsTVsChina400200India12030A.Which country has an absolute advantage in producing shirts? Which country has an absolute advantage in producing TVs? Explain how you got your answer? (____/5)B.Define “Per Unit Opportunity Costs”. What is China’s opportunity cost for producing one shirt? What is India’s opportunity cost for producing one TV? (____/5)C.Identify which country has a comparative advantage in shirts? Which country has the comparative advantage in TV? Explain how you got your answer? (____/5)D.Explain why these countries can benefit from trade. Identify a terms of trade that would benefit both countries? (____/5) 6. Practice FRQ #1 (____/5) 1. _____/24 4. _____/10 2. _____/26 5. _____/20 3. _____/15 6. ______/5 Total: _______/100 A B
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