AP (Advanced Placement) Macroeconomics Video Course Lecture: What is Opportunity Cost and Production Possibility Frontier (PPF) ? (36 mins) | Lecture 2 of 33

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Topics Covered

  • Fundamentals of Economics » Production Possibility Curve, Comparative Advantage
  • Fundamentals of Economics » Opportunity Cost

Details

What is Opportunity Cost and Production Possibility Frontier (PPF) ?

  • What is Opportunity Cost
  • What is Production Possibility Frontier (PPF) – Concave to Origin; Factors affecting shift of PPF
  • Law of Increasing Cost