KWL on consumer goods and capital goods

K                   What I know	W           What I want to know	L                What I learned
Write the information about what you know in this space	Write the information about what you want to know in this space.	After the completion of the lesson or unit, write the information that you have learnt in this space.
-          If want consumer goods, one have to sacrifice capital goods, vice versa. -          PPC is a curve showing the various combinations of the maximum quantity of 2 outputs that an economy can produce within a specified period of time with all its resources fully and efficiently employed, assuming  a particular state of technology.	-          What are consumer goods and capital goods meant for? -          How a PPC does shows scarcity?	-          Consumer goods are meant for final consumption while capital goods are used to produce consumption goods in the future. -          The PPC is a boundary: it is a curve that shows the limit of what an economy can produce with a given amount of scarce resources. Anything beyond the boundary cannot be produced because there are not enough resources available. This is how it shows scarcity. -          Choosing to produce capital goods or consumer goods would have a different effect on the economy, as capital goods would benefit the economy in the long run, as it will shift the PPC to the right, allowing for more goods to be produced in the future. However, consumer goods would satisfy consumers for now, but would not have a long term effect on the economy which means that it would not benefit us in the long run.    -