Essay: Production Possibilities and a new GDP The essay for this lesson is required to be a minimum of 750 words (excluding title and reference pages) that clearly demonstrate your understanding of the activity. Essays should have a clear introduction, thesis statement and conclusion, written in APA format (APAstyle.org). A minimum of three sources, at least two from the lesson, must be cited in-text and in the Reference list.

Category: Economics
Due Date: 24/02/2021
Willing to Pay: $35.00
Instruction
Activity Details Step 1: Review the following topic material. Khan, S. (2013) Production possibilities curve, Khan Academy, Retrievedhttps://www.youtube.com/watch?v=_7VHfuWV-Qg Beal, D. (2015) An alternative to GDP that factors in our wellbeing TED Institute, Retrieved fromhttps://www.ted.com/talks/douglas_beal_an_alternative_to_gdp_that_encompasses_our_wellbeing Explore additional resource: Production Possibility Frontier (PPF) (PPF)https://www.investopedia.com/terms/p/productionpossibilityfrontier.asp#ixzz5UtsALUD4 Step 2: Write a paper. Write an essay which is required to be a minimum of 750 words (excluding title and reference pages) that clearly demonstrate your understanding of the activity. After reviewing the “Production possibilities” presentation that references rabbits and berries, identify what would be the alternative options to another specific set of products or services, which you can find some “ceteris puribus” scenarios between the two activities. Apply the PPF to something in your life or a project you might have at work. Focus your theme on at least one of these three questions: • How would the availability of resources change the production possibilities for goods and services, in terms of the PPF? • Sketch a production-possibility frontier/curve (PPF) for other goods and services in a specific industry in one country with another. Explain why he PPF would be different in terms of economic well-being, economic sustainability, and GDP growth. • Explain how the concept of “Ceda” relates to the PPF curve and GDP growth.
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