Production Possibilities Frontier

[faithbrigade]

I LOVE YOU KHAN ACADEMY !

[animals0feel1pain2]

I've applied these microeconomics lessons to playing Age of Empires, and now I'm a pro.

[adijo123]

@animals0feel1pain2 Respect. :D

[wongcm331]

Salman Khan deserves a Nobel Prize.

[TheAutoSleep]

I play EvE Online, and these videos increased my income by a lot. I should study more and applies this knowledge to real life :D

[thimmyb]

The concept of a production possibilities frontier seems very similar to isocost curves. Are these concepts equivalent?

[StudentCommunity]

I'm gonna rely on Khan Academy for my Econ from now. It's so much easier.

[totemizer]

My only concern is, that in reality, there is no such thing as caeteris paribus :(. I mean it like the Heisenberg uncertainty principle, not like we can not make any assumptions.

[Raymusicnote]

@mappingtheshit That is the most close minded thing I have ever heard in my life. Some of us are learning this for the first time, because we're actually smarter than what they teach us in school so don't make assumptions. People learn differently and if you're such a genius, why're you watching this in the first place?

[danielraoul26]

Who dafuq eats rabbits?

[mappingtheshit]

People showing their appreciation here demonstrate their stupidness, as not understanding this easy crap in your classroom is beyond my imagination... Man, you are then super stupid, kill yourself

[kschoe937]

@mappingtheshit Calmmmmm downnnnnn it's not that hard, but its a basic subject that needs to be learned.

[BRG8403]

Another great video! I can't believe I wasted $ on college.

[cazkelly]

My whole 1st semester in 1 playlist 24 hours before my exam, WINNING..!!!

[StopMotionCarl]

I CANT THANK YOU ENOUGH!!

[Hemouth]

cant wait for macroeconomics

[Staticbursts]

@Hemouth I agree, although to be fair there are many macro concepts covered in the various banking and money videos

[Hemouth]

this is epic

[Ohrts]

YOU HAVE GOT TO BE KIDDING ME! you made this playlist after my economics exam! :(((

[DomeSwag]

4:55 That was actually the most impressive tracing I have ever seen O_O

[gunz543]

I see!!

[houdapurple]

omg !!!!!!!!!!!!!!!!!!! i've just discovered these videos about microeconomics !! i'm so exited how come they're not on the khanacademy website ?!!

[myeyeshurt5566]

ceteris paribus sounds like it could be an awesome Tool song

[vickiormindyb]

I like scenario F the best. If I had to hunt my own food, I'd be TOTALLY vegetarian, b/c I simply can't do it.

My brother tried to get me to kill a deer, and I was physically incapable of doing it. By that, I MEAN physically incapable. I froze in time and space as if I were suddenly paralyzed.

I couldn't do it, but I can buy food that other people have killed, and I don't even like doing that.

[vickiormindyb]

All I can say is I wish my friend with the macroeconomics degree and MBA was more interested in talking about his work. I can't get him to say anything, much less go into a detailed explanation of his work.

Thus I'm stuck in one place, b/c I need on-hands help with economics as well as the explanations I get from the videos.

He wouldn't even tell me that he once worked for NYSE. I had to find the information by accident. I can't figure out why he'd be embarrassed to tell me.

[geometro92]

YES!!! I'm an SI Leader for microeconomics at Kent State, and these videos will be SO HELPFUL!!!

[vickiormindyb]

@geometro92 What's an SI leader?

[IncognitoObserver]

How come I can't find these videos on the KhanAcademy website?

[pepteamsergi09]

Make more microeconomics please.. such as. Elasticity and types of Elasticity, rules Demand Schedule, Market, etc.. TY Good Job!!

[ilikeknifing777]

Scenario B is honestly the best you have over half the total of each food supply.

[BurkeyAcademy]

@ilikeknifing777 Absolutely not. YOU can;t tell anyone what their best choice is. The point is for people to make their best choice while being informed of the tradeoffs. Vegetarians want all berries, people who don;t like berries much will choose mostly, or all rabbits. But, knowing what you give up for eating more meat or getting more berries is the point.

[ilikeknifing777]

@BurkeyAcademy ? My point was in scenario B you get the best percentage of both worlds

[BurkeyAcademy]

@ilikeknifing777 I understand how you are misunderstanding, because many students initially think like you do. However, it is very important to realize that maximizing the percentage of the maximum is unlikely to maximize your happiness, or your profit, or whatever goal we might have in producing these goods. For example, if we could sell rabbits for $10 and berries for .05 each, then A is best. But if rabbits sell for 5 and berries for .10 each, then F would be the best.

[ilikeknifing777]

@BurkeyAcademy I wouldn't sell my food, I'd eat it, and I can understand how you have come to this misunderstanding as most people who decide to bother correcting me based upon unknown and nonexistent factors initially think like you.However it is important to realize that the goal is not one you could initially think of or comprehend due to the way this world now is, the goal is to maximize your award for work as with any other Scenario you (on average) lose more than you gain.

[kurt05051987]

Ceteris Paribus :)

[Rooseveltboh]

lol thumbs up if you'd do scenario B

[EndureFocusEngageDie]

Hunting berries lol, GET THEM THEY'RE ROLLING AWAY!

[MarcusTexaco]

I hope I never hear the words "rabbit" and "berries" again..

[animals0feel1pain2]

i'd like to see some tutorials on personal motivation and procrastination. that'd be awesome

[Jotto999]

I absolutely love watching your economics videos.

[plllll0]

That Harvard MBA coming in handy ...

[LeEternelleVie]

Does Sal use a mouse or a tablet? If he does this with a mouse then I am quite impressed.

[n7darren]

@LeEternelleVie He uses a Wacom tablet. :)

[LeEternelleVie]

@n7darren Thank you for the answer =D

[JKJUNIOR95]

i love u

[etdias]

Holly shit you are my personal Jesus Christ!

[theholywand11]

i've been watching these since he start on food stuff and i don't even know what subject this is.

[MrBipBipp]

@theholywand11 It's economics :)

[MrBipBipp]

Finally!! :)

[PEFOBE007]

I'm dressed as a banana while writing this comment

[shinenot]

I'm so happy you started Econ video series. Please do as much as possible. :)

[waqasleo17]

PPF is one of the most confusing topic in economics in case of GDP.

We know that a person can't go above the PPF as it is impossible to achieve.

Potential GDP is the maximum out a country can produce, i.e. its the country's PPF. so when there is war, so how the country's production exceeds the potential gdp? Because any point above the PPF is unreachable and impossible to achieve.

Salman plz consider this question

[waqasleo17]

well I am the first to view this :)