Episode 3: How Change In Technology Or Resources Affect Production Possibilities Frontier

https://johnzamen.files.wordpress.com/2014/05/episode-3-how-change-in-technology-or-resources-affect-production-possibilities-frontier.m4a

In this episode we’ll look on the impact on Production Possibilities Frontier caused by the change in technology or resources.
Limited resources means limited output. Necessity of choice is created. Choice is reflected in the need of the society to select among the various attainable combinations lying on the PPC.

Economic growth (shifts outward of the curve) occurs because of productive expansion.
PPF change with shifters like
1. Change in resources quantity/quality
2. Change in technology.
3. Change in trade

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