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Theme 1: Fundamentals of Economic Analysis

Theme 1: Fundamentals of Economic Analysis. Economic resources (aka factors of production) Land, labor, capital, entrepreneurs Scarcity= we have limited resources for our unlimited wants Trade offs/Opportunity cost= what could you do with resources instead? (OC= next best alternative).

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722 views • 64 slides

Consumption, Savings, and Aggregate Expenditures

Consumption, Savings, and Aggregate Expenditures. Do you agree or disagree with the following?. If income remains constant, when consumption increases savings must decrease. If income increases, savings decreases and if income decreases, savings increases.

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301 views • 14 slides

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Multiplier 1 mps - PowerPoint PPT Presentation

Theme 1: Fundamentals of Economic Analysis

Consumption, Savings, and Aggregate Expenditures