Production Possiblity Curve by Jaxon Teboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337 By Jaxon teBoekhorst en-us 2022-04-15 02:39:58 UTC 2022-04-15 03:48:08 UTC hello@padlet.com jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144575688 This project is on the production possibilities curve]]> 2022-04-15 02:52:06 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144575688 Question 1: What did you learn about your topic that surprised you the most? jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144578300 2022-04-15 02:55:29 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144578300 Question 2: Provide a real-life example of how this topic is relevant or interestingfor you. jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144578452 2022-04-15 02:55:36 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144578452 Question 3: If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on? jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144578551 2022-04-15 02:55:43 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144578551 Video #4 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581128 2022-04-15 02:58:55 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581128 Video #3 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581287 This video goes through the process of drawing a production possibilities curve for yourself, starting with the table of your combinations and what you can produce for each product at any production level for the other, then continuing to draw your two scales, each one being the amount of each product you can produce. Next, you plot your points for each combination, and finally connect them with your curve. He finishes off with explaining what the curve means. 

I chose this video because it was the only video that I could find that went through the step by step process of drawing a production possibility curve from start to finish

]]> 2022-04-15 02:59:08 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581287 Video #2 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581352 This video start showing 3 different types of Production possibility curves, with 3 different shapes, it continues with explaining what each shape means. A line that bows out means an increasing opportunity cost, a line that bows in implies a decreasing opportunity cost, and a straight line implies a constant opportunity cost. 

I chose this video because it ties well with the first video, using very similar graphics, and it is the same speaker. I also found that this video builds on the concepts introduced in the first video very well. One bit of useful was the graphics that were provided, I found that they gave a very good visual of what they were saying, unlike the other videos that I found.

]]> 2022-04-15 02:59:14 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581352 Video #1 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581420 This video begins by discussing what a production possibilities curve, by giving the example of a country that makes utensils, it then discusses how a production possibilities curve can grow or shrink based off changes in resources, capital and more. It finishes with explaining what the location on or within the curve imply. 
I chose this video because it was very simple with descriptive graphics, they spoke at a very understandable pace, and the information was very relevant. One thing that it taught me was that it is impossible to go beyond the curve, but you can shift it when there is more access to any of the contributors.  

]]> 2022-04-15 02:59:19 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581420 Website #4 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581523 2022-04-15 02:59:28 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581523 Website #3 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581545 I chose this site because even though it is mostly about how to read a production possibilities curve, though it does still go over all of the other aspects of the topic. The most interesting thing that i found was the way that they showed that a curve can grow asymmetrically if one side of the curve has more development than the other]]> 2022-04-15 02:59:31 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581545 Website #2 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581587 I chose this website because it has questions at the end for if you want to test your knowledge after reading. One thing that I found interesting was the way that they explained it using more than just good vs good, they also compared producing good to other necessities such as security.

]]> 2022-04-15 02:59:34 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581587 Website #1 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581620 I chose this site because I found that it went over some of the smaller details that other sites were glossing over. The most interesting thing that I found was Pareto efficiency, others had mentioned it, but this site went into much more detail on it. ]]> 2022-04-15 02:59:36 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581620 Picture #2 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581679 2022-04-15 02:59:41 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581679 Picture #1 jaxonteboekhorst https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581770 2022-04-15 02:59:49 UTC https://padlet.com/jaxonteboekhorst/q2c6hzhsxyvv0337/wish/2144581770