Slide 1 © 2003 McGraw-Hill Ryerson Limited 2 - 1 u The choices made by society are often presented in terms of a production possibility curve. u The production possibilities…

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Chapter Two Choice, Opportunity Costs and Specialization Introduction An economic system has to solve three coordination problems: What, and how much, to produce. How to…

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Threshold Concepts in Economics: implications for teaching, learning and assessment Peter Davies and Jean Mangan, Institute for Education Policy Research, The Business School,…