'Curve represent economic growth' diaporamas de présentation

Unit 1 Notes: Fundamental Economic Concepts

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The Economic Problem: Scarcity and Choice

The Economic Problem: Scarcity and Choice. Scarcity, Choice, and Opportunity Cost. Human wants are unlimited, but resources are not. Three basic questions must be answered in order to understand an economic system: What gets produced? How is it produced? Who gets what is produced?.

591 views • 40 slides

The Economic Problem: Scarcity and Choice

The Economic Problem: Scarcity and Choice. Scarcity, Choice, and Opportunity Cost. Human wants are unlimited, but resources are not. Three basic questions must be answered in order to understand an economic system: What gets produced? How is it produced? Who gets what is produced?.

511 views • 40 slides

The Economic Problem: Scarcity and Choice

The Economic Problem: Scarcity and Choice. Scarcity, Choice, and Opportunity Cost. Human wants are unlimited, but resources are not. Three basic questions must be answered in order to understand an economic system: What gets produced? How is it produced? Who gets what is produced?.

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What is Production?

The Economic Problem: Scarcity and Choice. What is Production?. Production is the process by which resources are transformed into useful forms. Resources , or inputs , refer to anything provided by nature or previous generations that can be used directly or indirectly to satisfy human wants.

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