Production Possibilities Frontier at work
In this first summit session, we are discussing the key economic concepts and reviewing some terminology. Now, let’s put to practice what we’re learning. Select a relevant microeconomics industry and discuss how it relates to the PPF. Consider why countries engage in international trade and how that country aligns with the PPF concept. Choose a topic that explores one or more factors of production and how they relate to the PPF.
Locate a recent article or event (published within the last year) that highlights your relevant microeconomics topic. Use the Hunt Library, newspapers, new stations, or other credible sources to discuss how your topic aligns with microeconomics. Include the following in your discussion:
- State the article or event you selected.
- Identify the microeconomic concept(s).
- Describe your findings.
- Analyze the relevance to real-life applications.
Summarize your findings using at least 250 words and provide a minimum of one reference. Use current APA formatting to document your sources.