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Examples of ways a production possibilities frontier

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Reference no: EM131911435

Choose one of the two questions to answer in a reply.

1. Provide 2-3 real-world examples of ways a Production Possibilities Frontier (PPF) showing two real-world goods could be moved inward or outward and describe the outcome of that inward or outward movement.

2. Imagine there is an economy that consists of a group of consumers and one factory that produces Apple iPhones. All of the consumers are employed at the factory. Describe the circular flow chart that exists in this economy.

Reference no: EM131911435

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