Wow...I'm on assignment an I must confess this is indeed helpful

@SocratGhadban

Жыл бұрын

Thank you Zahra, Glad it helped you :)

Thank you Socrat - made so much more sense than our SA lecturer "tried" to explain it.

@SocratGhadban

11 ай бұрын

My pleasure! not easy to make things look easy =)

Woow woow woow...how amazing this video is? I havent engaged with the economic subject . But I have to face economic in my university in this currently . I started to love economic because of your video . It clearly teaches the lesson ..Thank you..Wish u all the best...❤️

@SocratGhadban

Жыл бұрын

You made my day! thank you for your kind words! so glad that you liked the video!

Explained so well, thanks!

@SocratGhadban

2 жыл бұрын

Thank you James!

Best explanation ever!❤

@SocratGhadban

11 күн бұрын

Thank you! :)

I love this video. The explanation is very simple and easy to understand. I am currently learning about this concept and now i won't have to worry about this type of questions appearing in the finals at University.

@SocratGhadban

Жыл бұрын

Great to know that you loved the video.. I wish you all the best in your finals :)

thank u so much for this. ur explanation i so direct and also the example were easy to understand. more power to u sir!

@SocratGhadban

2 жыл бұрын

Thank you for your kind words! I'm glad you found it useful!

Simple and easy to understand 👍

@SocratGhadban

3 жыл бұрын

Thank you!

EASY AND VERY HELPFUL THANK YOU

@SocratGhadban

4 жыл бұрын

Thank you! Glad it was helpful. cheers!

Thank u soo much for giving a super simple and clear explanation 😊

@SocratGhadban

Жыл бұрын

A great pleasure :)

learning this for grde 10

SO CONCISE AND INFORMATIVE

@SocratGhadban

Жыл бұрын

Thank you!

thank you for explaining, this was very helpful

@SocratGhadban

Жыл бұрын

My pleasure!

Thank you for the help.

@SocratGhadban

3 жыл бұрын

My pleasure!

This video is so good for understanding

@SocratGhadban

Жыл бұрын

Thanks, feel free to share it!

easy to understand and helpful. Thank you 🙏🏾

@SocratGhadban

3 жыл бұрын

You're very welcome!💐

Well explained, thank you

@SocratGhadban

Жыл бұрын

Thank you Hatima :)

Thank you ver much sir, Now I anderstand it by easy way❤❤❤❤

@SocratGhadban

Жыл бұрын

Happy for you!

Thanks that’s really helped!

@SocratGhadban

Жыл бұрын

My pleasure!

Thanks for explaining. I have to take Economics virtually and it's hard for me to learn by reading.

@SocratGhadban

Жыл бұрын

My pleasure! check other videos and you will have a very strong base in Economics!

Thank you so much.

@SocratGhadban

2 жыл бұрын

My pleasure!

very helpful!! thank youu

@SocratGhadban

3 жыл бұрын

Thank you Sarah! Good luck on your exam!

Best ❤️

Good job😃

@SocratGhadban

4 жыл бұрын

Thanks 😁

Thanks sir🙏

@SocratGhadban

3 жыл бұрын

You're the most welcome!

Thanks 😊

@SocratGhadban

2 жыл бұрын

You're welcome :)

Excellent I loved the video! I have to draw PPF for a project. Please tell me how you got this done.

@SocratGhadban

Жыл бұрын

Thank you for your feedback.. You can do it on excel and put the different points combination and you insert. Check this instead of weeks put the other variable www.howtogeek.com/462170/how-to-make-a-curved-graph-in-excel/

great video !! i was wondering if the points inside and on the ppc are attainable or not

@SocratGhadban

Жыл бұрын

Thanks, inside and on the pff yes, outside not and this why it's called frontier..

i cant find any video explaining how to calculate opp cost of A to B ( so inefficient point to efficient point ). Do i use the same method as point B to F or is it impossible? pls help me

@SocratGhadban

Жыл бұрын

One assumption for the PPF model that the economy/ firm is producing efficiently... When moving from A to B you have no loss but gain on both levels beer and wine. Thus, the opportunity cost is zero and linked to the fact that you were in an inefficient point which means not employing or using the resources on hand.. (keep in mind that we have only two choices of production and there is not third one which might change the interpretation)

if the producer is producing at point B and decides to produce at point E ,what would happen to the production level of both goods like in terms of gain and loss

@melishamoses624

Жыл бұрын

if the producer is producing at point B and decides to produce at point F ,what would happen to the production level of both goods in terms of gain and loss. 🙏🏻

@SocratGhadban

Жыл бұрын

In this case he will lose 25 Beer and will gain 10 Wine

How did you get, Efficiency point? How did you calculate it

@SocratGhadban

5 ай бұрын

If you mean the different points, they are given

Imports accounted for abour 70% of sales of port meat in Australia. Pork imports from Denamrk, Canada, and the United States rose 48% in the past year. Australian producers receive about $2.30 per kilogram, which costs $3 to produce. Canada is an important supplier of pork meat to Australia, while Australia exports wine to Canada. Draw both an Australian and a Canadian PPF for wine and pork which are consistent with this pattern of trade. Lable the curves. Vertical -Wine (thousands of bottles) Horizontal - Pork meat (thousands of kilograms) Plese can anyone help to solve this question ?

@SocratGhadban

Жыл бұрын

For Australia, since the cost of producing pork is higher than the price they receive, it means that their production of pork is not efficient, and they could produce wine at a lower cost. Therefore, the PPF for Australia would show that they have a comparative advantage in producing wine, and their production of pork is limited due to high costs. For Canada, since they are an important supplier of pork meat to Australia, it suggests that they have a comparative advantage in producing pork. Thus, the Canadian PPF would show that they have a higher potential for producing pork than wine.

great lesson, what app are you using to draw that?

@SocratGhadban

Жыл бұрын

Thank you, I did it simply on PowerPoint

@mbuguawamwere7025

Жыл бұрын

@@SocratGhadban one last question. Is F or B more efficient than D or E?

@SocratGhadban

Жыл бұрын

@@mbuguawamwere7025 All these points are the same regarding efficiency, but it depends on the entity in question to choose at what point to produce based on certain market information

@mbuguawamwere7025

Жыл бұрын

@@SocratGhadban Uh huh! so this is where market demand and allocative efficiency come in. Cheers🍻

Does the point c show scarcity

@SocratGhadban

Жыл бұрын

in all cases you have scarcity check the following video that defines scarcity kzread.info/dash/bejne/hpaDttpmeKfbn9I.html

Under what circumstances can a country produce at point c

@SocratGhadban

3 жыл бұрын

Given the current state of production and technology point C is unreachable, however on the long run which means with a new technology or with time the whole PPF moves to the right and point C becomes attainable!

@aishamahama4158

3 жыл бұрын

Can opportunity cost be the reason to produce at point c?

@SocratGhadban

3 жыл бұрын

@@aishamahama4158 no, the reason is being more efficient, so with the same resources you can produce greater quantities of goods and services in question

Kbirr

@SocratGhadban

Жыл бұрын

😅👍