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Econ 110 - DR.NAMINGIT

by: Brianna Salgado

Econ 110 - DR.NAMINGIT Econ 110

Marketplace > Kansas State University > Econ 110 > Econ 110 DR NAMINGIT
Brianna Salgado

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Principles of macro economics
Sherlly Namingit
Class Notes
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This 1 page Class Notes was uploaded by Brianna Salgado on Friday July 22, 2016. The Class Notes belongs to Econ 110 at Kansas State University taught by Sherlly Namingit in Summer 2016. Since its upload, it has received 5 views.


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Date Created: 07/22/16
Econ 110 Production Possibilities Frontier (PPF): a graph that shows the combos of two goods the economy can possibly produce given the available resources and the available technology.  Assumptions Producti o Technology on fixed o Resources Comput Whe fixed o Simplified two-good analysis ers at  Point E (500,0) = A 500 0 Specializing in Computers  Point A (0,5000) = B 400 1000 Specializing in Wheat  Points B,C ,D = C 250 2500 Points of Efficiency D 100 4000 Comparative Advantage: The situation in which an E 0 5000 individual, business, or country can produce at a lower opportunity cost than a competitor.


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