Explore opportunity cost and the production possibilities curve in this lesson summary on economic concepts from Khan Academy.

The production possibilities curve (PPC) is a graph that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the production …

In this video, Sal explains how the production possibilities curve model can be used to illustrate changes in a country's actual and potential level of output. Concepts covered include efficiency, inefficiency, …

Explore the concept of production possibilities curve (PPC) and its implications in economics with Khan Academy.

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Opportunity cost is the trade-off that one makes when deciding between two options. The example of choosing between catching rabbits and gathering berries illustrates how opportunity cost works. The …

Each curve has a different shape, which represents different opportunity costs. The bowed out (concave) curve represents an increasing opportunity cost, the bowed in (convex) curve represents a …

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Learn how to solve problems about calculating the unemployment rate, calculating the labor force participation rate, and the relationship between unemployment and the production possibilities curve …

In this lesson summary, review the key concepts, key terms, and key graphs for understanding opportunity cost and the production possibilities curve.