This assignment allows students to use production possibility schedules and graphs to calculate opportunity cost. It also teaches the difference between straight-line and bowed-out production possibility curves, and therefore the Law of Increasing Opportunity Costs. Students will also be asked to label inflationary gaps, recessionary gaps, and full employment on the PPC. Appropriate for all levels of economics (on-level, Honors, and AP).
4 Page Assignment
4 Page Answer Key