πŸͺ΄ Knowledgebase

Unit Review

1 min read

  1. Explain how to use opportunity cost in everyday life
  2. Differentiate between increasing and constant opportunity cost PPC
  3. Explain why the low of increasing opportunity cost occurs
  4. Explain how you calculate PER UNIT opportunity cost
  5. Explain the difference between productive and allocative efficiency on the PPC
  6. Identify the 3 shifters of the PPC
  7. Give SPECIFIC Scenarios that would shift a PPC outwards, (Pizza & Robots)

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