The German auto giant, Volkswagen, has chosen St. Thomas, Ontario as the site of its first battery factory outside of Europe. (Globe and Mail, March 2023). (10 Marks)

1. Identify the elements of scarcity, choice, and opportunity cost for the electric battery industry now and when the plant is up and running in a few years' time. (6 Marks)

2.Discuss the effect on electric battery industry production possibilities curve (PPC) when they begin production? Include a graph, if necessary. (2 Marks)

Answer rating: 100% (QA)

1 Scarcity Choice and Opportunity Cost in the Electric Battery Industry Scarcity The electric battery industry faces scarcity in terms of limited resources such as raw materials eg lithium cobalt and ... View the full answer