Click Insert in the main menu. In the Insert submenu, click Shape. In the Shape dialog box, select Line in the Shape menu, specify that you want the graph to be a bar graph, and then click OK. Select a graph type from the shape type list and specify that the values of the category axis shall represent the percentage of sales, and use either the built-in categories or custom categories as the values of the category axis.

What is the production possibilities model?

The production possibilities frontier is the space of choice between the minimum product and the maximum obtainable product in relation to the production costs.

What are the three economic systems?

There are only three different economic systems: capitalism, communism and socialism.

Why does constant opportunity cost occur?

For a company whose business is expanding and whose share price is rising the increased risk of expansion is called constant opportunity cost. In fact, the same can happen to a company whose share price is falling. When a new company enters a market where many companies compete for customers, it faces a constant price for its products.

How do I create a graph chart in Excel?

Select Graph > Other Chart Types to choose a chart type. If you create a chart in Excel, you use several steps to bring it to the format you want. These steps depend on the chart type you choose. The simplest and most popular chart type is the line chart.

What does inefficiency inside the PPF curve mean?

If you compare each of the 10 years in the portfolio, you should get a result that is much closer than the 2.87% that you would get by just looking at the average returns. So in this example you get the “true” risk in the form of an efficient frontier as shown in Figure 3. The vertical axis shows the rate of return; the horizontal axis indicates the equity risk premium.

How is opportunity cost shown on a production possibilities frontier?

Opportunity cost refers to the foregone or lost opportunity of using the resources in the least productive use when there is less productive uses of that. The opportunity costs of resources on a production possibilities frontier can be expressed as marginal costs, shown on the production possibilities frontier curve.

How do I make a line graph?

The most common method to make a line graph is by using a table, because you can see two or more columns at the same time. Just create the table using SQL and insert your values in the format (x, y) (the first number is the ordinate and the second number is the abscissa).

Accordingly, how do you make an XY graph in Excel?

Select “Y” in the left column of your X-Y graph. In the right column, type in the values for each x-value. To create a linear trend line, hold the CTRL key and click the down arrow, or double-click the down arrow.

What are the four factors of production?

These four factors are labor, land, capital and technology. Anything that can be produced can eventually also be sold, and they can all be combined in a company.

What are the three basic economic questions?

Economics is the process of production and distribution of goods and services within a given market. The three most basic questions in economic theory are: 1. Why do people act the way they do? An economy needs to solve the following practical problems: The basic question of production: How to meet current and future needs? The basic question of consumption: How to satisfy present and future needs?

How do I find the #value in Excel?

To use the formula for finding a value in another cell, simply type the formula for the #N/A or blank cell in cell B6 and press CTRL-T (CTRL-Z on the Mac). To enter the formula for #N/A or blank cell in a cell in Sheet1 (Sheet1). Simply place the cursor in cell B6 and press CTRL-F.

What are sparklines in Excel?

Sparklines are a set of charts or graphs that enable analysis on data. You can use sparklines to visualize data quickly and easily.

Consequently, what is a production possibility frontier for an economy?

A production possibility frontier (PPF) shows the total output of an economy that can be produced by a set of given factors of production, while ensuring that every person is supplied with the resources needed to convert those factors into outputs. This is the theoretical maximum output that could be produced by the economy.

How do I edit a scatter graph in Excel?

To edit a scatter graph, open the scatter chart in Excel, then click the graph area and click the Edit button (see image below). The chart will be updated, showing the points you’ve selected.