13 | Production Possibilities Frontier
The Production Possibilities Frontier (PPF) is a graphical representation of what production is possible given a fixed set of resources over a period of time.
A brief video introducing the idea of the production possibilities curve.
A brief video that expands on the concept of the production possibilities curve.
A brief video that expands on the concept of the production possibilities curve.
A brief video introducing the idea of the production possibilities curve.
A video on deadweight loss and Christmas.
Price floors, when prices are kept artificially high, lead to several consequences that hurt the consumer. In this video, we take a look at the minimum wage as an example of a price floor.
In this video, we explore the fourth unintended consequence of price ceilings: deadweight loss. When prices are controlled, the mutually profitable gains from free trade cannot be fully realized, creating deadweight loss
What was the greatest invention of the industrial revolution? Hans Rosling makes the case for the washing machine.