Economics
Economics
Unit 1 | Topic 1 | Fundamentals of Economics
Unit 1 | Topic 1 | Fundamentals of Economics
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How does economics affect everyone?
How does economics affect everyone?
Introduction to Topic 1
Introduction to Topic 1
My Story: Fundamentals of Economics
My Story: Fundamentals of Economics
Because people have unlimited needs and wants, and limited resources, they must make choices. Economics is the study of those choices. Entrepreneurs make choices about how to combine resources to produce goods or services. Individuals consider tradeoffs when making choices. Even entire nations make choices, and they can use a production possibilities curve to compare the tradeoffs involved in those choices.
Topic 1.1
Topic 1.1
Scarcity
Scarcity
How does scarcity force people to make economic choices?
Topic 1.2
Topic 1.2
Opportunity Cost and Trade-Offs
Opportunity Cost and Trade-Offs
How does opportunity cost affect decision making?
Topic 1.3
Topic 1.3
Production Possibilities Curves
Production Possibilities Curves
How does a nation decide what and how much to produce?
IN_Econ_Topic01_GuideAssessment.pdfTopic 1 Quick Study Guide
Topic 1 Quick Study Guide
How does economics affect everyone?
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