'Production possibility frontiers' presentation slideshows

Chapter 1

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Chapter 8

718 views • 46 slides

Scarcity & Choice

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Fundamental Economic Concepts

Fundamental Economic Concepts. 3 Basic Economic Questions. What to produce How to produce it For whom to produce it Why do we need to answer these questions? Because wants often outweigh needs creating scarcity. Scarcity and Opportunity Cost.

3.03k views • 24 slides

Principles of Microeconomics Lecture 1 Overview of Economics

Principles of Microeconomics Lecture 1 Overview of Economics. What is Economics?. Economics is a social science. The big two concepts that Economics deals with are : Resources are scarce ( limited) 2) Society has unlimited needs and want.

443 views • 14 slides

Lecture 2

Lecture 2. PPF. Production Possibility Frontier: It shows the maximum amount of goods and services that can be efficiently produced in an economy by available inputs/resources and technology.

209 views • 9 slides