Woow woow woow...how amazing this video is? I havent engaged with the economic subject . But I have to face economic in my university in this currently . I started to love economic because of your video . It clearly teaches the lesson ..Thank you..Wish u all the best...❤️
I love this video. The explanation is very simple and easy to understand. I am currently learning about this concept and now i won't have to worry about this type of questions appearing in the finals at University.
Thank you for your feedback.. You can do it on excel and put the different points combination and you insert. Check this instead of weeks put the other variable www.howtogeek.com/462170/how-to-make-a-curved-graph-in-excel/
@@mbuguawamwere7025 All these points are the same regarding efficiency, but it depends on the entity in question to choose at what point to produce based on certain market information
Good question, mainly it's bowed representing increasing opportunity costs. As more of Good A is produced, increasing amounts of Good B must be sacrificed because the resources are less efficient when transferred between the two goods. This is the typical shape of the PPF in most economic scenarios. however you can have Straight-Line PPF This represents constant opportunity costs. Convex PPF This represents decreasing opportunity costs. In this case, as more of Good A is produced, the amount of Good B that must be sacrificed decreases, possibly due to improved specialization or efficiency in production. This shape is less common in real-world economies but theoretically possible.
if the producer is producing at point B and decides to produce at point E ,what would happen to the production level of both goods like in terms of gain and loss
if the producer is producing at point B and decides to produce at point F ,what would happen to the production level of both goods in terms of gain and loss. 🙏🏻
i cant find any video explaining how to calculate opp cost of A to B ( so inefficient point to efficient point ). Do i use the same method as point B to F or is it impossible? pls help me
One assumption for the PPF model that the economy/ firm is producing efficiently... When moving from A to B you have no loss but gain on both levels beer and wine. Thus, the opportunity cost is zero and linked to the fact that you were in an inefficient point which means not employing or using the resources on hand.. (keep in mind that we have only two choices of production and there is not third one which might change the interpretation)
Imports accounted for abour 70% of sales of port meat in Australia. Pork imports from Denamrk, Canada, and the United States rose 48% in the past year. Australian producers receive about $2.30 per kilogram, which costs $3 to produce. Canada is an important supplier of pork meat to Australia, while Australia exports wine to Canada. Draw both an Australian and a Canadian PPF for wine and pork which are consistent with this pattern of trade. Lable the curves. Vertical -Wine (thousands of bottles) Horizontal - Pork meat (thousands of kilograms) Plese can anyone help to solve this question ?
For Australia, since the cost of producing pork is higher than the price they receive, it means that their production of pork is not efficient, and they could produce wine at a lower cost. Therefore, the PPF for Australia would show that they have a comparative advantage in producing wine, and their production of pork is limited due to high costs. For Canada, since they are an important supplier of pork meat to Australia, it suggests that they have a comparative advantage in producing pork. Thus, the Canadian PPF would show that they have a higher potential for producing pork than wine.
Given the current state of production and technology point C is unreachable, however on the long run which means with a new technology or with time the whole PPF moves to the right and point C becomes attainable!
@@aishamahama4158 no, the reason is being more efficient, so with the same resources you can produce greater quantities of goods and services in question
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Wow...I'm on assignment an I must confess this is indeed helpful
Thank you Zahra, Glad it helped you :)
Woow woow woow...how amazing this video is? I havent engaged with the economic subject . But I have to face economic in my university in this currently . I started to love economic because of your video . It clearly teaches the lesson ..Thank you..Wish u all the best...❤️
You made my day! thank you for your kind words! so glad that you liked the video!
Thank you Socrat - made so much more sense than our SA lecturer "tried" to explain it.
My pleasure! not easy to make things look easy =)
this was a perfect video before my mid term
I'm glad it helped you!
I love this video. The explanation is very simple and easy to understand. I am currently learning about this concept and now i won't have to worry about this type of questions appearing in the finals at University.
Great to know that you loved the video.. I wish you all the best in your finals :)
bro ur actually so helpful thank u, ur accent is very soothing too
Thank you, pleasure to read your comment!
yes, this was wonderful! thank you for clarifying this concept with your video.
Thank you very much :)
thank u so much for this. ur explanation i so direct and also the example were easy to understand. more power to u sir!
Thank you for your kind words! I'm glad you found it useful!
SO CONCISE AND INFORMATIVE
Thank you!
This video is so good for understanding
Thanks, feel free to share it!
Thank you ver much sir, Now I anderstand it by easy way❤❤❤❤
Happy for you!
Best explanation ever!❤
Thank you! :)
Thank u soo much for giving a super simple and clear explanation 😊
A great pleasure :)
Well explained, thank you
Thank you Hatima :)
very helpful 😘
My pleasure :)
learning this for grde 10
thank you for explaining, this was very helpful
My pleasure!
easy to understand and helpful. Thank you 🙏🏾
You're very welcome!💐
EASY AND VERY HELPFUL THANK YOU
Thank you! Glad it was helpful. cheers!
Thanks that’s really helped!
My pleasure!
Best ❤️
Explained so well, thanks!
Thank you James!
Excellent I loved the video! I have to draw PPF for a project. Please tell me how you got this done.
Thank you for your feedback.. You can do it on excel and put the different points combination and you insert. Check this instead of weeks put the other variable www.howtogeek.com/462170/how-to-make-a-curved-graph-in-excel/
Simple and easy to understand 👍
Thank you!
Thank you for the help.
My pleasure!
great video !! i was wondering if the points inside and on the ppc are attainable or not
Thanks, inside and on the pff yes, outside not and this why it's called frontier..
Thanks alot
You're welcome
great lesson, what app are you using to draw that?
Thank you, I did it simply on PowerPoint
@@SocratGhadban one last question. Is F or B more efficient than D or E?
@@mbuguawamwere7025 All these points are the same regarding efficiency, but it depends on the entity in question to choose at what point to produce based on certain market information
@@SocratGhadban Uh huh! so this is where market demand and allocative efficiency come in. Cheers🍻
Thank you so much.
My pleasure!
My question is that
why the frontier of ppf is always curved (bowed out) why not straight 😢😢😢
Good question, mainly it's bowed representing increasing opportunity costs. As more of Good A is produced, increasing amounts of Good B must be sacrificed because the resources are less efficient when transferred between the two goods. This is the typical shape of the PPF in most economic scenarios. however you can have Straight-Line PPF This represents constant opportunity costs. Convex PPF This represents decreasing opportunity costs. In this case, as more of Good A is produced, the amount of Good B that must be sacrificed decreases, possibly due to improved specialization or efficiency in production. This shape is less common in real-world economies but theoretically possible.
@@SocratGhadban thanks 🙏🏻 sir I m from India Bihar
@@4o_fessor nice meeting you, connect on Linkedin!
Good job😃
Thanks 😁
very helpful!! thank youu
Thank you Sarah! Good luck on your exam!
if the producer is producing at point B and decides to produce at point E ,what would happen to the production level of both goods like in terms of gain and loss
if the producer is producing at point B and decides to produce at point F ,what would happen to the production level of both goods in terms of gain and loss.
🙏🏻
In this case he will lose 25 Beer and will gain 10 Wine
Does the point c show scarcity
in all cases you have scarcity check the following video that defines scarcity th-cam.com/video/TbOTx-HDuoo/w-d-xo.html
Thanks 😊
You're welcome :)
i cant find any video explaining how to calculate opp cost of A to B ( so inefficient point to efficient point ). Do i use the same method as point B to F or is it impossible? pls help me
One assumption for the PPF model that the economy/ firm is producing efficiently... When moving from A to B you have no loss but gain on both levels beer and wine. Thus, the opportunity cost is zero and linked to the fact that you were in an inefficient point which means not employing or using the resources on hand.. (keep in mind that we have only two choices of production and there is not third one which might change the interpretation)
Thanks sir🙏
You're the most welcome!
Imports accounted for abour 70% of sales of port meat in Australia. Pork imports from Denamrk, Canada, and the
United States rose 48% in the past year. Australian producers receive about $2.30 per kilogram, which costs $3 to
produce.
Canada is an important supplier of pork meat to Australia, while Australia exports wine to Canada.
Draw both an Australian and a Canadian PPF for wine and pork which are consistent with this pattern of trade. Lable the
curves.
Vertical -Wine (thousands of bottles)
Horizontal - Pork meat (thousands of kilograms)
Plese can anyone help to solve this question ?
For Australia, since the cost of producing pork is higher than the price they receive, it means that their production of pork is not efficient, and they could produce wine at a lower cost. Therefore, the PPF for Australia would show that they have a comparative advantage in producing wine, and their production of pork is limited due to high costs.
For Canada, since they are an important supplier of pork meat to Australia, it suggests that they have a comparative advantage in producing pork. Thus, the Canadian PPF would show that they have a higher potential for producing pork than wine.
Under what circumstances can a country produce at point c
Given the current state of production and technology point C is unreachable, however on the long run which means with a new technology or with time the whole PPF moves to the right and point C becomes attainable!
Can opportunity cost be the reason to produce at point c?
@@aishamahama4158 no, the reason is being more efficient, so with the same resources you can produce greater quantities of goods and services in question
How did you get, Efficiency point? How did you calculate it
If you mean the different points, they are given
Kbirr
😅👍