Y1 2) Production Possibility Curves - PPCs / PPFs

Production Possibility Curves - PPCs / PPFs. Detailed video covering everything you need to know about Production Possibility Curves - PPCs / PPFs
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[@master4755]

Our Modern Father and Saviour of Economics here, bless him

[@ciangraffin]

Facts yo

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2:22 its 15 laptops but you probably didnt even realise because you said 15 afterwards. Thanks for these videos I am learning economics A-level by myself (and you)

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IS - investment and savings - relating to public and private savings - affected by fiscal policy and private investment LM - liquidity money - depends on monetary policy (increasing/decreasing the money supply)

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not the best at explaining then are you

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A racist one

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A costly one

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We have to understand the limits and the borderline, especially in today’s day and age

[@royaluchennalevi6224]

Whatever man

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Excellent !!

[@ahmedmunir300]

If the line is a straight downward slope on a ppf graph is the opportunity cost constant or increasing?

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Well explained!

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hello thankyou for the video!

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[@MOIR]

1. Maximum possible production of 2 goods/services with given factors of production. 2. The various combination of 2 goods/services that can be produced.

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[@ViralClipsTube]

That face at the end of your comment was completely unnecessary, it is in fact a misallocation of resources as your time could've been spent better elsewhere. Not to forget the negative externality in production you've generated because of it, now I'm here after reading to make sure you're aware that you're allocatively inefficient. Your ppf should be in the negatives rn sorry to say

[@sebiclark5843]

@@ViralClipsTube your reply was an oppurtunity cost

[@ViralClipsTube]

@@sebiclark5843 Sure I mean, everything has an opportunity cost. Although my reply was pareto efficient. So we good

[@plty3931]

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[@ViralClipsTube]

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[@zubairjalal1718]

Why isn’t a point inside the curve parato efficient because when inside the curve, you can make tablet consumers better off without affecting laptop consumers?

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Thank You! VeRY ePic

[@nancymaseko721]

good explanation

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legend

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A goat

[@ShivamMaisuriya-io1vi]

0:00 to 14:35 is the best

[@donrobbie160]

if im doing my A level next summer, is this the right spec?

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Yh this is the year 1 economics spec so if you're in yr12 right now this is what you should be going over and if your exam board is OCR you're in the right place

[@maverick4244]

I don't understand it @ 4:15 how are the factors of production favored towards laptops if less are being produced?

[@K0uzan]

hes trying to say that increasing the production of laptops in that part of the curve is more favourable as there will be a larger amount of laptops produced with a lower amount of tablets not being produced (so basically, less oppurtunity cost).

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goated

[@jimmylevitsky1944]

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[@kalathmipathiraja6292]

Pareto efficiency wouldn't apply if there was an expansion or an outward shift ye?

[@ViralClipsTube]

It would just move along with the curve, Pareto efficiency is anywhere on the current PPF in time.

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Wow

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[@ViralClipsTube]

Mind your language son

[@mattikarp240]

is it possible for the PPF curve to be inverted?

[@EconplusDal]

Yes absolutely Matti - an inverted PPF represents decreasing opportunity cost of production

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No he doesn’t.

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This is the modern Adam Smith or David Ricardo.

[@joshmurphy8529]

Is this fine for edexcel

[@magic2201]

I think so but I'm not sure

[@kalkidandemis1821]

Can it be in 3 goods??

[@kalkidandemis1821]

Thanks 🙏

[@Knoq]

7:31

[@zuhaybahmed449]

4:17

[@prernanayak8617]

In which circumstances the PPF curve will be inverted???

[@amandaarcher7919]

Do you mean bowed in? I think decreasing opportunity cost

[@samuelcampion6120]

Is the curve ever convex?

[@yudichauhan890]

yes, when there is decreasing opportunity costs

[@samuelcampion6120]

@@yudichauhan890 yes but in any real world scenarios?

[@stg1325]

@@samuelcampion6120 yes

[@fttech6594]

what is Q2 CELL?

[@ViralClipsTube]

Q^2Cell represents Quality & quantity of each factor of production. It's a good way to remember how a PPF can shift.

[@varushar1]

You're cute. Thank you for your knowledge and wisdom.

[@short4rm]

75-60=16

[@tkay6371]

why is it that when they "move to specialistion in tablets, it means their factors of production are more suitable to laptop production", it doesnt make sense?

[@ajitesh2375]

me too

[@short4rm]

he means in this specific example. you can see that when the tablet production increases the laptop production is dropping off massively but when the laptop production increases the tablets only drop off in smaller amounts meaning with the tools they have they are more suited to producing laptops at a higher rate as tablets are also being produced at a high rate in comparison.

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[@michelle-pm8yn]

no thats not him lol