Documents Unit 1: Basic Economic Concepts 1. REVIEW 1.Explain relationship between scarcity and choices...

Slide 1Unit 1: Basic Economic Concepts 1 Slide 2 REVIEW 1.Explain relationship between scarcity and choices 2.Differentiate between positive & normative 3.Differentiate…

Documents Unit 1-3: Basic Economic Concepts 1. Society has unlimited wants but limited resources The...

Unit 1-3: Basic Economic Concepts * Society has unlimited wants but limited resources The Economizing Problem⦠Scarcity WE HAVE A PROBLEM!! * The Production Possibilities…