Production possibilities (PPC)
Explore scarcity, opportunity cost, efficiency, and growth.
All diagrams / Introduction to economics
Introduction to economics diagrams
Why does choosing one option mean giving up another? Use production possibility curve (PPC) diagrams to explain scarcity and opportunity cost, then follow income, spending, injections and leakages through the circular flow model.
Circular flow: closed economy without government
Trace real and monetary flows between households, firms, the product market and the factor market.
Circular flow: leakages and injections
Connect saving, taxes and imports with investment, government spending and exports.