Final answer:
The opportunity cost of moving from point 'b' to point 'a' on the Production Possibility Frontier is the amount of education society forgoes to produce more healthcare. The slope of the PPF represents the rate at which one good can be exchanged for another.
Step-by-step explanation:
If we move on the Production Possibility Frontier (PPF) from point 'b' to point 'a', the opportunity cost refers to the amount of one good or service that must be given up in order to produce more of another good or service. In the context provided, the move from point B to point A would typically indicate that society is producing more healthcare and less education, given that the PPF is downward sloping from left to right. Therefore, the opportunity cost is the amount of education that is forgone in order to produce more healthcare.
The PPF shows the tradeoff that must be made between two different goods or services, such as healthcare and education. Understanding the slope of the PPF is crucial as it illustrates the opportunity cost - the concept that for every additional unit of one good produced, a certain amount of the other good must be sacrificed. This relationship is similar to a budget constraint where resources are limited and choices must be made about where to allocate them.