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  • What Economics Is All About

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    Tarry-Lee Rinquest
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    Economics is the study of how individuals, governments, firms, and nations make choices on allocating scarce resources. It introduces basic concepts like opportunity cost, production possibility frontier, and specialization. The production possibility curve illustrates the key tradeoff between devoting resources to one good over another and the concept of opportunity cost.

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    Microeconomics

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    WHAT ECONOMICS IS ALL ABOUT--

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    Economics is the study of how individuals, governments, firms, and nations make choices on allocating scarce resources. It introduces basic concepts like opportunity cost, production possibility frontier, and specialization. The production possibility curve illustrates the key tradeoff between devoting resources to one good over another and the concept of opportunity cost.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    16 views3 pages

    What Economics Is All About

    Uploaded by

    Tarry-Lee Rinquest
    Economics is the study of how individuals, governments, firms, and nations make choices on allocating scarce resources. It introduces basic concepts like opportunity cost, production possibility frontier, and specialization. The production possibility curve illustrates the key tradeoff between devoting resources to one good over another and the concept of opportunity cost.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    WHAT ECONOMICS IS ALL ABOUT

    1.1. The Essence of Economics

    1.2. Basic Concepts

    ECO10A -Learnwhere- support@learnwhere.co.za-LAPTOP-O6H8IGI1 Page 1


    1.3. The Production Possibility Curve

    ECO10A -Learnwhere- support@learnwhere.co.za-LAPTOP-O6H8IGI1 Page 2


    ECO10A -Learnwhere- support@learnwhere.co.za-LAPTOP-O6H8IGI1 Page 3

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