ESI U1 L03 - PP Curves and Comparative Advantage by jclerch https://padlet.com/jclerch/ol4z248l16ci en-us 2018-03-24 03:27:16 UTC 2024-07-02 23:25:25 UTC hello@padlet.com jclerch https://padlet.com/jclerch/ol4z248l16ci/wish/264668222 2018-05-31 01:44:35 UTC https://padlet.com/jclerch/ol4z248l16ci/wish/264668222 Reff's Videos jclerch https://padlet.com/jclerch/ol4z248l16ci/wish/264677151 2018-05-31 02:39:32 UTC https://padlet.com/jclerch/ol4z248l16ci/wish/264677151 jclerch https://padlet.com/jclerch/ol4z248l16ci/wish/264746725
  1. Explain that a production possibilities curve (sometimes called a production possibilities frontier) model may be used to show the concepts of scarcity, choice, opportunity cost, and a situation of unemployed resources and inefficiency.
  2. Describe, using a PP Curve, the difference between decreasing levels of unemployment, on the one hand, and increases in technology, and/or the quality/quantity of the factors of production, on the other hand.
  3. Explain the importance of investment in capital stock (physical capital, human capital and natural capital) for economic growth.
  4. Explain the importance of improved productivity for economic growth. 

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