Slide 1 Slide 2 AAn alternative that we sacrifice when we make a decision A student skips school to go to ACL. Trade-off is giving up school for the concert GGuns…
Basic Economic Concepts Scarcity, Opportunity Cost & PPC Key Assumptions in Economics People are rationally self-interested They seek to maximize their utility (happy…
Basic Economic Concepts Scarcity, Opportunity Cost & PPC Capitalism Characteristics Supply and Demand SCARCITY Economics is the study of limited resources and unlimited…
Basic Economic Concepts Scarcity, Opportunity Cost & PPC Capitalism Characteristics Supply and Demand SCARCITY Economics is the study of limited resources and unlimited…