Teachers will be able to:
-Explain how tradeoffs and opportunity costs are illustrated through the production possibilities model.
-Explain the factors that cause shifts in the production possibilities frontier model.
-Generate date to create a production possibilities frontier model.
This video is available to view for EconEdLink members only.
In this economics webinar, learn to teach the production possibilities frontier using self-generated data and real world examples.
Students can work interactively in small groups via breakout rooms or hangouts, or create their models independently, to illustrate the concepts of scarcity, trade-offs, opportunity cost, resources, growth, underemployment and underemployment.
Learn how to engage your students with the generation of self data to mimic production-possibilities models.