Factors of Production
Explain the four factors of production.
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Modules
16-30 min
Production Possibilities Frontier
OVERVIEW
Learn how a production possibilities frontier graphic model illustrates scarcity, choice, and opportunity cost. You’ll explore why producing more of one good requires giving up some of another, how productive capacity grows over time, and why some trade-offs become increasingly costly.
Related Resources
VIDEO Q&A
16-30 MIN
LESSONS & ACTIVITIES
31-45 MIN
Allocation Strategies, Rational Decision Making, and Social Economic Goals
In this lesson, students learn to combine rational decision-making models, allocation strategies, and social economic goals
INFOGRAPHICS & COMICS
How Do I Use Economics In My Life?
Explore how economics is a part of students’ everyday lives.
READING Q&A
16-30 MIN
Choices Are Everywhere: Why Can't We Just Have It All?
Discuss opportunity costs and scarcity.
AUDIO Q&A
0-15 MIN
Opportunity Cost
Introduce choice, scarcity, and opportunity cost.
VIDEO Q&A
16-30 MIN
The Production Possibilities Frontier: Scarcity and Opportunity Cost
Explain how the production possibilities frontier (PPF) illustrates scarcity and opportunity cost.
