Can someone help me with the PPF and the Supply and demand curve?

Question

And give me an easy, 2nd grade like example?

Answer 1

The PPF (production possibility frontier) simply shows how much you can produce of two goods with the resources you have. The quantity of one good is plotted on the Y axis and the quantity of the other good is plotted on the X axis. It is usually a convex curve ) from the origin. The curve is the maximum combination of X and Y you can produce. Anything beyond the curve is unobtainable (with your limited resources) and anything within the curve is inefficient (you could be making more of either X or Y or both).

Supply and demand curves are plotted together on an X axis representing quantity demanded of some good and a Y axis representing price of some good.
The demand curve falls from left to right because at a high price
consumers demand less quantity of the good - at a low price they demand a high quantity.

The supply curve on the same graph rises from the left to the right. This is because at a low price producers will produce small quantities of the good and at a high price they will produce a large quantity of the good.

Where the supply and demand curve meet is the equilibrium point. This is quantity and price at which producers will produce
and consumers will consume in a perfectly competitive market.
At this spot (X marks the spot) both the producer and consumer will neither have surpluses nor shortages.

Hope that helps.
Peace

Answer 2

PPF-stands for Production Possibility Frontier. It plots all the possible goods and services produced given a constrained amount of resources.
Supply curve-plots the amount of goods and services supplied in the market by producers. Supply is dependent with price setting other factors contant(ceteris paribus). Supply increases as price increase and decreases as price decreases.

Demand curve- plots the mount of goods and services demanded in the market. Demand increases as prices increases (ceteris paribus)

Answer 3

word has some elementary charting purposes. flow to "Insert," then "Chart." i could in all probability use Excel. in case you have have been given it, build the charts there. Then use the "Insert" functionality to place them into word. i for my section opt to construct charts in PowerPoint. It has a effective combination of capacity and skill to change the charts. (Excel does, too, yet i hit upon this is not as elementary.) do not situation approximately what software is appropriate for producing them. you have not have been on condition that software, yet you do not choose it. wish that helps.