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AP Microeconomics Videos 8 videos
AP Microeconomics 1.12 Basic Economic Concepts. What is an advantage of specialization and trade?
AP Microeconomics 1.8 Basic Economic Concepts. What among the following may not be your opportunity cost?
AP Microeconomics 1.6 Supply and Demand. What will the production possibilities curve for this economy look like?
AP Microeconomics 1.2 Basic Economic Concepts 228 Views
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Description:
AP Microeconomics 1.2 Basic Economic Concepts. On the production possibilities curve below, which of the following does point Z represent?
Transcript
- 00:00
Thank you We sneak and here's your shmoop du jour
- 00:05
brought to you by milk duds What a gallon of
- 00:08
milk wears when it's ready to go out on the
- 00:10
town On the production possibilities curved below Which of the
- 00:14
following does point z represent and hear the pencil Answers
Full Transcript
- 00:18
are there's point c knickers milk duds and a line
- 00:24
It's All right well remember the old ad This is
- 00:27
your brain This is your brain on drugs Well this
- 00:30
is you and this is you on the ski slopes
- 00:33
And as much as we wish this was just a
- 00:36
fun skiing vacation Well this slope actually represents something specifically
- 00:42
the production possibilities Curves Yeah and if you showed up
- 00:47
in class today your teacher explain that concept to you
- 00:49
Well you'll remember that anything in this area is less
- 00:53
than perfectly efficient production if you actually move onto the
- 00:57
line and your efficient perfectly so actually yeah so above
- 01:02
the line No not a chance It's An impossible place
- 01:06
to be It would imply that you're more than perfect
- 01:09
which no matter what your mom might tell you is
- 01:12
not the case The other potential answers air just random
- 01:16
vocab board testings to see whether you have the nuggets
- 01:20
to say impossible So yeah the answer is e a
- 01:23
production impossibility Finally a piece of advice If you're ever
- 01:28
wearing new duds and someone snickers ignore them they're just 00:01:33.149 --> [endTime] being a goober
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