Slide 1 Slide 2 Unit I: Basic Economic Concepts Slide 3 Economics Defined Economics-Social science concerned with the efficient use of limited resources to achieve maximum…

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Unit 2: Supply, Demand, and Consumer Choice Unit I: Basic Economic Concepts 3 FACTS! Econ is a skills based course. Learning methodology resembles algebra more than history.…

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Unit I: Basic Economic Concepts What is Economics in General? Economics is the study of _________. Economics is the science of scarcity. Scarcity is the condition in which…