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Scarcity, possibilities, preferences and opportunity cost
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Scarcity, possibilities, preferences and opportuni...
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1 Lesson. Production possibilities frontier
Production possibilities frontier
Opportunity Cost
Increasing opportunity cost
Allocative efficiency and marginal benefit
Economic growth through investment
The_production_possibilities_frontier_and_social_choices
File
2 Lesson. Comparative advantage and gains from trade
Comparative advantage specialization and gains from trade
Comparative advantage and absolute advantage
3 Lesson. Marginal utility and budget lines
Marginal Utility
Equalizing_Marginal_Utility_per_Dollar_Spent
Deriving demand curve from tweaking marginal utility per dollar
Budget Line
Indifference curves and marginal rate of substitution
Optimal point on budget line
Types of indifference curves
Decisions_within_a_budget_constraint
File