Principles of Microeconomics EC221 Study Problems

What is the definition of economics?
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In the figure below, point A shows a combination of computers (10 million) and television (5 million) that this economy can produce at the same time. Thought of in a different way, at point A if the economy is producing 5 million television sets, 10 million computers is the most computers that could be produced at the same time (refer to study problem set 1)
Using the figure above, point D shows a point outside the frontier. It represents the economy producing 13 million computers and 12 million television sets at the same time. The economy is not capable of producing that combination of computers and television sets because of limited productive resources. Economies can't operate past their production possibility frontier. (refer to study problem set 1)
Specialization allows individuals to become very good at just one good task. As an individual focuses on one task, the individual develops high levels of skill at that particular activity. Society benefits when many individuals have high skill levels and society is able to produce many valuable goods and services.
Innovation is another way to expand society's production possibilities frontier. Innovation consists of finding improved ways of providing goods and services. Improving ways in which goods and services are provided causes the production possibilities frontier to shift outward. Over the last 200 years, innovative activity has been the source of most of the wealth of rich countries.