Concepts
- Productivity and Economic Growth
- Raw Materials (Quantity/Quality)
- Human Capital (Education and Training)
- Labor Supply
- Capital Equipment/Machinery (Capital Stock)
- Technology
- Shifting PPC
Overview
When you think of economic growth, think of the maximum capacity of an economy. If we were to utilize all of our resources as efficiently as possible what is the absolute maximum amount of output we could produce as an economy. Economic growth deals with things that increase the maximum capacity of our economy. The factors of production have a huge impact on our potential output. If we could enhance the quantity or quality of any of the factors of production, economic growth would result. There are many ways to illustrate economic growth in macroeconomics. In part 1 of our discussion we’ll learn how to illustrate economic growth with the production possibilities curve.
Materials
- Lecture Notes
- Practice Problems
Lecture
Video Coming at Later Date
Quiz
Reminders Before Taking Quiz:
- When you are asked “What Period?” please only put the one digit number of your class period. For example, if you have this class 1st period, just put 1 in the box for your response.
- The password to login is CASE SENSITIVE, so please be conscious of this as you type in your password.
- If it appears to be timing out when you login, try the following troubleshooting steps:
- Restart your phone (hard shut down and turn it back on)
- Turn off WiFi (access quiz through your data carrier)
- Click the “Classroom Link” provided in the initial email. Login, and then select this quiz from the list.
- If you lost the email, you can access the “Classroom Link” by clicking here. Enter your email address and password to log in and PLEASE BE SURE TO SELECT THE PROPER QUIZ!!!
- If you take the quiz once and would like to take it again to get a better grade, sometimes it will disappear from the “pending” section. If that’s the case, click the “completed” section and select the quiz you want to retake.