What you’ll learn4 learning objectivesChoose one objective for a focused lesson, or study the complete topic.1.5.1Production possibility curve• Nature and meaning of a production possibility curve (PPC)Syllabus objective1.5.2PPC shape and opportunity cost• Shape of the PPC: constant and increasing opportunity costsSyllabus objective1.5.3PPC shifts• Causes and consequences of shifts in a PPCSyllabus objective1.5.4Position within a PPC• Significance of a position within a PPCSyllabus objective