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Ch 3: Holt McDougal Economics Chapter 1.3: Analyzing Production Possibilities

About This Chapter

The Analyzing Production Possibilities chapter of this Holt McDougal Economics Companion Course helps students learn the essential lessons associated with production possibilities. Each of these simple and fun video lessons is about five minutes long and is sequenced to align with the Analyzing Production Possibilities textbook chapter.

How It Works:

  • Identify the lessons in the Holt McDougal Analyzing Production Possibilities chapter with which you need help.
  • Find the corresponding video lessons with this companion course chapter.
  • Watch fun videos that cover the production possibilities topics you need to learn or review.
  • Complete the quizzes to test your understanding.
  • If you need additional help, rewatch the videos until you've mastered the material or submit a question for one of our instructors.

Students will learn about:

  • What the production possibilities curve shows
  • Factors that cause the production possibilities curve to shift
  • The definition of productive efficiency
  • The law of increasing opportunity cost

Holt McDougal is a registered trademark of Houghton Mifflin Harcourt, which is not affiliated with Study.com.

5 Lessons in Chapter 3: Holt McDougal Economics Chapter 1.3: Analyzing Production Possibilities
Test your knowledge with a 30-question chapter practice test
Production Possibilities: Definition, Model & Shifts

1. Production Possibilities: Definition, Model & Shifts

Economists talk a lot about opportunity costs, but sometimes it's most helpful just to visualize it all. The production possibility curve allows us to do just that, and this lesson explains how.

Applying the Production Possibilities Model

2. Applying the Production Possibilities Model

Producers in the economy use a visual model, called the production possibilities curve, to make the most efficient production decisions and maximize output. Learn how this model reveals the tradeoffs of every production decision with the simplified example of an economy that produces only two goods.

Productive Efficiency: Definition & Measurement

3. Productive Efficiency: Definition & Measurement

In this lesson we will look at productive efficiency. We will define the term, and look at how it is often measured. The lesson will then be concluded with a summary and a quiz.

Law of Increasing Opportunity Cost: Definition & Concept

4. Law of Increasing Opportunity Cost: Definition & Concept

In this lesson, you will be introduced to the law of increasing opportunity costs. An example is also provided as we walk through the explanation of the law to provide more clarity.

Shifts in the Production Possibilities Curve

5. Shifts in the Production Possibilities Curve

In this lesson you will learn how changes inside an economy lead to changes in the production possibilities of a nation. See how different scenarios from everyday life lead to shifts in the production possibilities curve.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the Holt McDougal Economics - Concepts and Choices: Online Textbook Help course

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