'Production possibilities graph' presentation slideshows

Unit 1: Foundations of Economics What comes to your mind when you hear the word SCARCE? (video about scarcity)

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200

100. 100. 100. 100. 100. 200. 200. 200. 200. 200. 300. 300. 300. 300. 300. 400. 400. 400. 400. 400. 500. 500. 500. 500. 500. What is the desire for things that are not essential to survival called?. want.

519 views • 51 slides

Opportunity Cost

Opportunity Cost. Does every decision you make involve trade-offs?. Questions What is the opportunity cost of attending this economics class? What is the opportunity cost of attending a concert by your favorite band? What is the opportunity cost of increasing research for an AIDS vaccine?.

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Scarcity and the Factors of Production

Scarcity and the Factors of Production. What is economics? How do economists define scarcity? What are the three factors of production?. What is Economics Activity. What Is Economics?. Economics is the study of how people seek to satisfy their needs and wants by making choices.

328 views • 31 slides

Opportunity Cost

Opportunity Cost. In this lesson, students will be able to define the following key words and concepts: Trade-offs Opportunity Cost Guns or Butter Thinking at the Margin. Essential Question?.

347 views • 28 slides

The Principals of Economics

The Principals of Economics. Chapters 1-2. Economics. The effort to satisfy unlimited wants with limited means Choice Needs Wants. Value. Everything has value Goods Services Scarcity defines value All goods and services have scarcity High Scarcity = High Value

361 views • 23 slides

Scarcity and the Factors of Production

Scarcity and the Factors of Production. What is economics? How do economists define scarcity? What are the three factors of production?. What Is Economics?. Economics is the study of how people, both individually and in groups, deal with the problem of scarcity.

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Basic Economics

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Production Possibilities Graphs

Production Possibilities Graphs. In this lesson, we will examine the various options available to producers. Students will be able to define the following terms: Production Possibilities Graph Efficiency Underutilization Production Possibilities Frontier. Producers have options. Should a

154 views • 14 slides