Identify a specific combination of bug shakes and worm
pizza that represents an inefficient use of resources.
Identify a specific combination of bug shakes and worm
pizza that represents an inefficient use of resources.
Match the term to the definition
| Stavka koja se može prevući | arrow_right_alt | Odgovarajuća stavka |
|---|---|---|
Capital Goods | arrow_right_alt | Any resource used to produce goods and services; this includes not just land, but anything that comes from the land |
Consumer Goods | arrow_right_alt | The effort that people contribute to the production of goods and services |
Production Possibilities Curve | arrow_right_alt | The tools, machinery, and buildings use to produce goods and services |
Factor of Production Natural | arrow_right_alt | A person who innovates by combining the factors of production - land, labor, and capital - to earn a profit |
Factor of Production Entrepreneur | arrow_right_alt | A model that shows alternative ways that an economy can use its scarce resources |
Factor of Production Capital (physical) | arrow_right_alt | Goods produced for direct consumption such as pizzas and cookies |
Factor of Production Labor | arrow_right_alt | Goods that produce other goods such as machines and tools |
Identify a specific combination of bug shakes and worm
pizza that represents an inefficient use of resources.
Identify a combination of bug shakes and worm pizza
that can be produced if the cafeteria uses all resources
efficiently.
Identify a combination of bug shakes and worm pizza
that is unattainable given the current amount of
resources.
What is the opportunity cost when the cafeteria decides
to produce 70 bug shakes instead of 40 bug shakes.
What is the opportunity cost when the cafeteria decides
to produce 6 worm pizzas instead of 3 worm pizzas?
What is the opportunity cost when the cafeteria decides
to produce 3 worm pizzas instead of no worm pizzas?
Explain why a country cannot produce a combination of products that is outside of its production possibilities curve.
According to the video, what can cause a production possibilities curve to move (shift) outward to the right?
Use the numbers in the table to draw a production possibilities curve. Be sure to label the axis and each combination (A-E)
