The Economic Problem and Scarcity · Economic Foundations

Production Possibility Frontiers

Using visual models to demonstrate efficiency, growth, and the cost of shifting production.

Key Questions

  1. 1How does a society determine its optimal point of production?
  2. 2What factors cause a shift in the potential output of an economy?
  3. 3Why is total efficiency often difficult to achieve in practice?

ACARA Content Descriptions

AC9EC11K01AC9EC11S02
Year: Year 11
Subject: Economics & Business
Unit: The Economic Problem and Scarcity
Period: Economic Foundations

Suggested Methodologies

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