The basic aim of this research is to produce a comprehensive academic poster that will be presented orally. This is an informative poster aims at informing people what the term Production Possibilities Frontier (PPF) means and its impact on the economy.
The Production Possibilities Frontier (PPF) is found in the profession of Economics, specifically, Macro Economics. When we talk about the PPF, we actually mean that a country’s economy has reached a level where its production of goods and services as well as its distribution of the resources has reached an optimum level.
The Production Possibilities Frontier is a very crucial aspect especially to today’s economy, “It shows the maximum amount of one commodity that can be obtained for any specified production level of the other commodity, given the society’s technology and the amount of factors of production available” (Arnold. R A. 2008) 543.
According to the Production Possibilities Frontier, production has its own limitations hence it is crucial for an economy to prioritize the nature of goods and services it produces in order to achieve success (Parkin M. 2008) 395.
STRUCTURE OF THE POSTER.
The production possibility frontier research will use a graph model that will show the maximum combination of output reproduced from a given output. Assuming that the economy produces 2 goods and at the same time assume that the quantity and technology factors remain fixed then, here is a possible combination. (A farmer grows either barley or wheat on a piece of land).
For easier understanding, the research will make use of a report. In this case therefore, the PPF will be drawn with the wealth on the vertical axis. Notably, this will be on a straight line and any point on the production possibility frontier will be assumed to be “efficient”. The economy in this case gets the most it can consider the fixed technology and resources. (Bator, Francis M. 1957).
The audience will consist of investors who will more specifically be interested on what their businesses can produce and without producing less on the other end. The audience will fully be aware of inefficiencies that are as a result of inefficient management and unemployed resources. The audience will be made to understand that growth in the business sector can only be achieved through better and more inputs such labor and capital. Better still, from better technological organizations. To help the audience understand the topic better, the information will be presented by use of a chart as follows;
Production Possibility Frontier
The chart gives a simple illustration as to what happens when all factors of production are fully used in their potential. Going by the above diagram, the economy can choose to operate at a lower capacity anywhere inside the curve. For instance, at point a, however, such a combination of commodities may be lower than what the economy will adequately produce. Going by the above demonstration “some factors of production are suited to producing both wine and grain, but as the production of one of these commodities increases, resources better suited to production of the other must be diverted.” (Samuelson A. Paul 1967)
To make them understand the behavior of the graph better, some terms will have to be defined. This includes the absolute advantage that occurs when one party becomes more productive than the other and hence, produces an amount that has low inputs. Again a comparative advantage will be defined and in this case, one party tend to have a lower opportunity cost than the other. In simple terms, one is fairly more productive in production of one of the two goods. At the end of the presentation a quick summery will be given on the main issues. This will allow the audience to comprehend what they could have missed during the discussion. Again, they will be allowed to ask questions that will be answered using relevant supporting documents such as documentaries for clarity purposes. (Farrell, MJ 1957)
Academic style and language
The academic English writing will be linear. This means the research will have one central point and every part will be contributing to the main point of argument, without repetition or digressions. As a matter of fact, the objective of this presentation will be to inform rather than entertain. On the same note, it will be based on the standard form of a language that is formal.
The presentation will use spoken language more than written language. This is so specifically because written languages tend to be more complex than the spoken ones; hence the audience will be more comfortable with it. The presentation is based on an academic research done by various academicians. As a result, referencing will be mandatory so as to give it a professional touch it entails. This will be done at the end of every paragraph. To take responsibility of the presentation, justifications and evidences will be provided for any claim made. Consequently, it will be very important to demonstrate and understand the sources of the texts used as will as paraphrasing what other researchers have done. In general, the presentation will find the need to embroil the MLA writing style so as to ensure the authentic of the work done. (Gillespie, Andrew 2007)
The use of partial power point in an academic presentation is a very important tool when driving a point home. It will therefore be adopted so as to ensure smooth flow of ideas. Again, to ensure that the audience has got permanent materials to keep referring to, adequate handouts will be supplied to each and every one of them. By so doing, this will make the presentation to be even more simple and better.
The literature review will take into account the global background of the economy. In this case, factions in the developing nations will be analyzed alongside the emerging markets. Elsewhere, it will analyze on how it has contributed to violence in some parts of the world. The background information is very important ant more so to the audience as it enables them get armed with relevant knowledge before the actual presentation is done. (Samuelson A. Paul 1967)
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