Sunday, January 18, 2015

Production Possibilities Graph:



Key assumptions:

  1. Two goods are produced
  2. Full employment
  3. Fixed resources
  4. Fixed state of technology
  5. No international trade

1 comment:

  1. I like your choice of production possibilities graph and how the points are labeled. Coincidentally, I had also used the same graph on my blog. A suggestion would be that you should maybe label the points in order to have a clearer understanding of what they each represent. Other than that, great notes.

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