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Chapter 1: The Nature and Methods of Economic

Chapter 1: The Nature and Methods of Economic. Definition of Economics. The social science concerned with the efficient use of limited or scarce resources to achieve maximum satisfaction of human needs. Human wants are unlimited, but the means to satisfy the wants are limited. Got stuff?.

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1.22k views • 94 slides

THE FOUNDATION OF ECONOMICS

THE FOUNDATION OF ECONOMICS. SOCIETY HAS VIRTUALLY UNLIMITED WANTS. THE FOUNDATION OF ECONOMICS. SOCIETY HAS VIRTUALLY UNLIMITED WANTS. BUT LIMITED OR SCARCE PRODUCTIVE RESOURCES!. GOODS & SERVICES PROVIDE. UTILITY. GOODS & SERVICES PROVIDE. UTILITY. LUXURIES.

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1.09k views • 90 slides

Limits, Alternatives, and Choices

1. Limits, Alternatives, and Choices. Learning Objectives. In this chapter you will learn: The definition of economics and the features of the economic perspective. The role of economic theory in economics. The distinction between microeconomics and macroeconomics.

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693 views • 28 slides

Introduction to AP Economics

Introduction to AP Economics. Economics is defined as the social science concerned with the efficient use of scarce resources to achieve the maximum satisfaction of economic wants.

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307 views • 21 slides

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B c w attainable - PowerPoint PPT Presentation

Chapter 1: The Nature and Methods of Economic

THE FOUNDATION OF ECONOMICS

Limits, Alternatives, and Choices

Introduction to AP Economics