(Production Possibility Frontier/Curve, PPF, PPC) Why can't things be free?

[@vineetdubey2063]

This animation has made my life much easier now! Thank you so much for this explanation!

[@mayh2610]

You know why this video can be a little confusing let alone the accent? Because the production possibility curve can be a straight line!!! A straight line production possibilities curve shows a constant opportunity cost if we compare corn and wheat, since the resources to produce corn and wheat are very similar!!! Whereas a bowed-out curve shows increasing opportunity cost, the resources to produce bread and the IPAD or whatever are completely different, that’s why it is concave!!!

[@shadism1714]

thank you i got it now

[@dsd6538]

Nothing wrong about the accent

[@regesrodriguessantos943]

It was simple and very good explanation. I'll use it to answer my younger child who asked me why all goods were not free. It's the issue of scarcity.

[@katahajnal3416]

Amazing, i wish i knew how to make videos like this. Do you have any special formation to be able to do videos like this? Or how does it work? Anyway, great job. Interesting and really good explanation!!

[@economicsmafia]

Thanks a lot for your compliment! You've really encouraged me to continue to make videos =). I used Adobe After Effects (animation), Illustrator (illustration) and Audacity (sound editing) to make the video. I read some books on design and writing to get inspired as I'm not an artist by training. I'm trying hard to learn design but there's really a lot to learn...I'm kind of overwhelmed...Thanks a lot for commenting..that's awesome=)

[@economicsexclusive2045]

Just the question I wanted to ask

[@zendroov938]

It's very well explained ... Now I got it ..thanku♥️

[@niraj_v]

Great work!! Keep Continuing this work

[@khangembamkumar7274]

Great, informative 💯

[@ayahgamer4531]

Very much easier and fun to understanding a little about PPC Theory from this video..thanks

[@zaid_hus]

This is very well explained.

[@yourchoice9261]

I think you meant conVEX. Concave is a curve going inward, not outward.

[@mohdrishan4604]

Really its great .we get a logical idea .👌👍

[@chldndyd21]

This is great video. It helped me a lot. Thanks for the well-made video

[@economicsmafia]

Thanks a lot for your compliment. =) Your encouragement means a lot to me. Can I ask what other types of Economics videos are you looking for? I'm a bit lost on what other people like...

[@eugensvetllicinii]

Economics Mafia i'd be happy yo see something related to marginal cost/revenue, total revenue, profit. That's the begining course for the BE students, and many of them are looking for this info :)

[@economicsmafia]

Thanks a lot! That's useful information=). Haha...may I know what does 'BE' stand for? May I know do you watch Econ videos for general interest or for school work? I'm trying to make Econ videos that are as intriguing as possible but it seems that people are looking for videos that explain graphs... haha... Thanks a lot for giving me some clues =)

[@eugensvetllicinii]

Economics Mafia BE= business and economics, I've been watching yours back in days for fun, now I start using them for my studies, thank you:)

[@51MontyPython]

If you watch econ videos for fun, I'm sure you will do really well in the field :)

[@51MontyPython]

Thank you for explaining this very important to understand point. Nicely done. Also fun to watch.

[@theseoprincess]

Love your video! Thanks a lot! Big, big help! Just subscribed!

[@tanyabatra617]

Awesome...very good explained! ✌️👍

[@AnujSharma-bv2il]

i didnt get it why is it concave???😦

[@nab11111l]

because the more people that produce tablets, the less capable they are of making it because not every human is perfect in making tablets

[@fashionvictim50]

@Dean Young you're an asshole

[@lyons2577]

This very old, I know. But in case anyone else stumbles has this question. The simple answer is because the resources often are not fully cross compatible. You may have some specific resources/technology that will increase your production of one good, but not the other. This causes the line of possible production between the two to be uneven. Hence the curve.

[@yua_lo13]

I am so glad i watched this video!

[@fumblyfingers901]

Nice explaination....but I couldn't understand why it's concave🙁

[@rithvikshivakumar8776]

Nice and helpful video

[@economicsexclusive2045]

Very well made

[@razazaid3319]

please upload some more videos based on the srilanka a/l economic syllabus

[@aravindhhayagreeva1307]

Great Great 👏👏👏👏👏👏

[@markersdoings]

Cool video!

[@tan799]

I really love your video... but i don't understand about concave curve... why all the different jobs will go to produce tablet? and why some of them from the firm of bread will go to produce tablet ?? Really need your help !　Thank you !!

[@economicsmafia]

Well, let's take your classmates in your class as an example. Some will be good at writing, some at sports, some at programming etc. Suppose your teacher needs to create a software. Naturally, she'll pick the guy most talented in programming to do the job. This one guy is very talented and hence he'll be really productive. Think about 1 Mark Zuckerberg beats 100 mediocre programmers. What if she needs more people? She'll pick the 2nd best guy, so on and so forth. Sooner or later she'll run out of programmers. If she needs more people, she'll have to pick from the remaining pool of people in the class, who are talented in other things like sports and arts but not programming. So these people, if chosen to program, will be far less productive than the first guy that she choose.

[@tan799]

Economics Mafia alright ... i get it ! but is it there are 2 firms between bread and tablet? or there are in a same firms? i just wonder about it... Thx for ur kind reply ^^

[@beckylynchthemanwwe7427]

I really don't understand why the ppc is concave

[@funhax7597]

i still dont get that why is it curve??...btw subcribed..very helpful vids

[@junior14fariasxD]

in this example he mentioned that people have different skills, in order for it to be a straight line, everyone would have to have a phd meaning that everyone would be as efficient as can be, but as we know not everyone has a phd, therefore more and more people are required to do the same job.

[@51MontyPython]

Since it takes more and more people to make more of one commodity (in this case, tablets), and because as more of the most skilled/efficient human capital (people) are required then to increase production by x amount, and a greater amount with each and every increase of the same amount, and since there is only a finite amount of human capital, in order to add more to one field, you must take away from another, and specifically, you must take away _more_ people for each and every increase even of the same incremental amount, than the same numerical increase prior to the next (or current one), and same for the increase prior to that, and prior to that, etc. For the first increase in tablets of x amount, it didn't require as many more people as it will for the same increase after so many of the most efficient people are taken up (for such endeavor), leaving you with a smaller pool of less and less efficient people (increasing production costs per unit). Hope that helped without confusing you more.

[@sarahcaroline8126]

Why can’t I just keep hiring the highly educated people to keep making the tablets? Is it because their salaries will become more expensive or there won’t be people like that available on the market anymore? Bc if there are people wanting tablets there then we could pay their salaries. And also there’s a bunch of people looking for jobs.

[@richardgreenhough]

Beautiful !

[@incognitoburrito8]

amazing !

[@UnknownUser12316]

3:02 wait what do you mean people with Master's of Engineering are not that good? A master's of engineering is already better than enough for an engineer! Most engineers have only bachelor's degrees!

[@garyk2629]

Things can be free, if there are rules to follow.

[@tokiralam2532]

Great♥️

[@theludicrousstuart6858]

Thank you

[@palkeshbhootra6163]

Still not got if firstly they were efficient but in ppc there is a assumption that resources and factors remains unchanged now if they r unchanged then ur theory is totally wrong

[@iftekmahmud]

Your explanation wasn't clear and your accent is quite difficult to understand.

[@nouraalsh2000]

Thank you :)

[@JAFFER3657]

Liked and subscribed :)

[@mukeshyadav9532]

#itm 👀✨

[@SAMARSINGH-do6or]

Bhaag

[@lihunyam]

Like ur videos! Subscribed :D

[@economicsmafia]

thanks for ya support!

[@davidexeli6433]

I like Economics

[@kylanbrown8438]

The expalantion for why the curve should concave is not vivid.... Still unclear about why the curve should be concave....

[@IsaacRodriguez-tp7tq]

i don't get it......

[@economicsmafia]

Can I help? Which part do you not understand?

[@IsaacRodriguez-tp7tq]

I don't understand why this is the reason why things can't be free

[@harshellsivakumar5165]

why is it concave?

[@matomaaa]

she means convex i guess

[@ericpham9106]

If tablet were designed to automate bread to increase both bread and tablet

[@lozcast7924]

It's just a hypothetical example where we are assuming that labour, capital, level of tech are constant.LLets make an exception and work with your example- Even if we automate machines, we would still need more machines (i.e. more capital) to produce bread (those which you will automate), and more economic resources result in the shift of the PPC, which is well explained within this theory. So, the economic model of PPC will still somewhat stand the test of your question.

[@SAMARSINGH-do6or]

#ITM

[@sarahcaroline8126]

Why can’t I just keep hiring the highly educated people to keep making the tablets? Is it because their salaries will become more expensive or there won’t be people like that available on the market anymore? Bc if there are people wanting tablets there then we could pay their salaries. And also there’s a bunch of people looking for jobs.

[@0missu]

we are 7 billion people now 2017

[@bruisegaming9976]

did I hear her say fishes??????

[@ericritter7970]

Her English is not native and too qiuet

[@holyrivals7191]

You don’t understand

[@elise8943]

Why is your accent like this???