Title

(3) The PPF Illustrates Specialization, Unemployment & Growth

Topic Category

Production Possibilities Frontier

Publication Date

2010

Keywords

Production Possibilities Frontier, PPF, Specialization, Unemployment, Growth

Abstract

This shows how a PPF can be used to illustrate the concepts of specialization based on resource endowment, unemployment of inputs, and economic growth over time.

Run Time

9:02

Primary Discipline

Microeconomics

Skills Delivered

Ability to compare resource endowments and specialization options for countries. Ability to discuss unemployment and growth.

Rigor Level

2000

Prerequisites

Previous PPF Videos



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