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  • Note EC213

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    Jitrapha Ponwanitpong
    6 views3 pages
    This document discusses concepts related to economics including entrepreneurship, demand, supply, elasticity, human capital, consumer's surplus, producer's surplus, deadweight loss, opportunity cost, scarcity, allocation decisions, profit maximization, production possibility curve (PPC), increasing opportunity cost, and factor endowment. Key terms like economics, society, utility, and law of scarcity are mentioned. Shifts in the PPC are explained along with how it illustrates increasing opportunity costs and choices involving trade-offs.

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    This document discusses concepts related to economics including entrepreneurship, demand, supply, elasticity, human capital, consumer's surplus, producer's surplus, deadweight loss, opportunity cost, scarcity, allocation decisions, profit maximization, production possibility curve (PPC), increasing opportunity cost, and factor endowment. Key terms like economics, society, utility, and law of scarcity are mentioned. Shifts in the PPC are explained along with how it illustrates increasing opportunity costs and choices involving trade-offs.

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

    Note EC213

    Uploaded by

    Jitrapha Ponwanitpong
    This document discusses concepts related to economics including entrepreneurship, demand, supply, elasticity, human capital, consumer's surplus, producer's surplus, deadweight loss, opportunity cost, scarcity, allocation decisions, profit maximization, production possibility curve (PPC), increasing opportunity cost, and factor endowment. Key terms like economics, society, utility, and law of scarcity are mentioned. Shifts in the PPC are explained along with how it illustrates increasing opportunity costs and choices involving trade-offs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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