Ch. 2 - Introductory Economic ModelsWorksheetSee all chapters
All Chapters
Ch. 1 - Introduction to Microeconomics
Ch. 2 - Introductory Economic Models
Ch. 3 - Supply and Demand
Ch. 4 - Elasticity
Ch. 5 - Consumer and Producer Surplus; Price Ceilings and Floors
Ch. 6 - Introduction to Taxes and Subsidies
Ch. 7 - Externalities
Ch. 8 - The Types of Goods
Ch. 9 - International Trade
Ch. 10 - The Costs of Production
Ch. 11 - Perfect Competition
Ch. 12 - Monopoly
Ch. 13 - Monopolistic Competition
Ch. 14 - Oligopoly
Ch. 15 - Markets for the Factors of Production
Ch. 16 - Income Inequality and Poverty
Ch. 17 - Asymmetric Information, Voting, and Public Choice
Ch. 18 - Consumer Choice and Behavioral Economics
The PPF helps us understand scarcity and opportunity costs. Wow!

Concept #1: Understanding the PPF

Example #1: PPF - Attainable and Efficient

Practice: A point inside the production possibilities frontier is

Practice: The economy of Clutchtopia can be summarized as seen on the PPF below. Consider the production mixes denoted alongside the graph. Mark the levels of production as Attainable (A) or Unattainable (U). If production is attainable, mark the level of production as Efficient (E) or Inefficient (I).