• Review the concept of utility
    • Outrageous Food video clip
  • Opportunity Cost explanation ()
  • Production Possibilities Frontier
    • Watch Episode 9 & 10 (search “mjmfoodie episode 9″ on YouTube if you cannot see the video embedded here and complete episode 9 & 10 worksheet as you watch
    • What PPF’s show-on the line=efficiency
    • Why they bow-increasing opportunity costs
    • A point inside the PPF shows inefficiency
      • Terry Tate video clip
    • A point outside is not attainable given the current level of resources (factors of production)
    • Shifts outward of the PPF (additional resources are gained)
      • Wile E. Coyote & Roadrunner video clip
    • Inward shift of the PPF (loss of resources)
  • Worked on Utility & Production Possibilities Frontier packet
    • Complete for homework and turn in on Thursday or Friday