Why do economists make assumptions? Name ways that your family interacts in the factor and production market. See Circular Flow Diagram. Draw and Production Possibilities Frontier for a country that produces computers and medicines. What happens when a many of its jobs because of cheaper IT wages overseas. Now redraw and explain as to what happens to your graph? Draw your own Production Possibilities Frontier and tell what an efficient outcome looks like on the graph. You can use your original computer and medicine graph. Discuss and offer an example of differences between both a positive and normative statements? Why did President Harry Truman suggest that he wanted to hire "a one armed economist