(1/3) The Production Possibilities Frontier – Economic Lowdown

This segment uses the fictional economy of Econ Isle to discuss how limited resources result in a scarcity problem for the economy. Econ Isle’s production possibilities are graphed to show its frontier, and then used to discuss the opportunity costs of its production and consumption decisions.

Part of the Economic Lowdown Video Series. Instructors, learn more at: https://www.stlouisfed.org/education/...

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