| << Chapter < Page | Chapter >> Page > |
Card 14 / 21:
What are the similarities between a consumer’s budget constraint and society’s production possibilities frontier, not just graphically but analytically?
Both the budget constraint and the PPF show the constraint that each operates under. Both show a tradeoff between having more of one good but less of the other. Both show the opportunity cost graphically as the slope of the constraint (budget or PPF).
| Previous Card | ← Previous Card Button |
| Next Card | → Next Card Button |
| Flip Card | ↑ / ↓ / Return / Space |
Notification Switch
Would you like to follow the 'Openstax microeconomics in ten weeks' conversation and receive update notifications?
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|