Production possibilities frontier

5 videos
This tutorial goes back to the basics. You are a hunter-gatherer with only so much time to hunt or gather. How do you allocate your time and energy to maximize your happiness? This is what we try to understand through our study of the production possibilities frontier and opportunity cost.

Production possibilities frontier

VIDEO 10:59 minutes
Tradeoffs for a hunter gatherer and the production possibilities frontier, and the notion of "ceteris paribus" (which means "everything else held equal").

Opportunity cost

VIDEO 5:48 minutes
Opportunity cost (and marginal cost) based on the PPF

Increasing opportunity cost

VIDEO 6:26 minutes
Why the opportunity cost may increase as you pursue more rabbits

Allocative efficiency and marginal benefit

VIDEO 14:10 minutes
Marginal Utility and maximization

Economic growth through investment

VIDEO 7:55 minutes
How investing for capital formation can expand the production possibilities frontier (PPF)