Welcome to another episode of my podcast. This episode discusses, holding the available resources and technology constant (ceteris paribus), the law of increasing opportunity costs causes the production possibilities frontier to display a bowed out shape (concave to the origin).

Welcome to another episode of my podcast. This episode discusses the principle of Opportunity Cost that states that the Opportunity Cost increases as production of one output expands.

Welcome to another episode of my podcast. In this episode I will discuss why the problem of Scarcity limits an economy to points on or below it’s production possibilities frontier.