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PPC: The abbreviation for production possibilities curve, which is a curve that illustrates the production possibilities for the economy. A production possibilities curve represents the boundary or frontier of the economy's production capabilities. That's why it's also frequently termed a production possibilities frontier (or PPF). As a frontier, it is the maximum production possible given existing (fixed) resources and technology. Producing on the curve means resources are fully employed, while producing inside the curve means resources are unemployed. The law of increasing opportunity cost is what gives the curve its distinctive convex shape.
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Lesson 11: Circular Flow | Unit 1: Basic Flow
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Economic activity can be separated according to the four basic macroeconomic sectors--household, business, government, and foreign. The circular flow model helps us analyze the interaction among these sectors. The circular flow is a model of the continuous production and consumption interaction among the four major sectors (household, business, government, and foreign), that takes place through the three aggregated macroeconomic markets (product, factor and financial). - The circular flow is a simple model that helps us understand the complex real world economy.
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TWO-SECTOR KEYNESIAN MODEL A Keynesian model of the macroeconomy that includes the two private sectors, the household sector and the business sector. This Keynesian model variation, often termed the basic Keynesian model or the private sector Keynesian model, captures the interaction between induced consumption expenditures and autonomous investment expenditures. This model is commonly used to illustrate the basic workings of Keynesian economics, including equilibrium, disequilibrium, and the multiplier. Equilibrium is identified as the intersection between the C + I line and the 45-degree line. Two related variations are the three-sector Keynesian model and the four-sector Keynesian model.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Do something wonderful; people may imitate it. " -- Albert Schweitzer, theologian, physician
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