Please enable JavaScript.
Coggle requires JavaScript to display documents.
Unit 1 Limits ,Alternatives,Choices, The Production possibilities…
Unit 1 Limits ,Alternatives,Choices
Based on the fundamentals of Economics
Economic perspectives
What Economics is
Scarcity and choice
Purposeful behavior
Marginal Analysis
Based on the Economics of society
Contextualizing and explaining society economizing problem
How economic growth can be maximized through international trade
Explored the significance and working of the production possibilities model
The Production possibilities curve(PPC)
Curves that displays the different combinations of goods
Law of increasing opportunity cost
Shape of the curve
Economic rationale
Optimal allocation
Budget line
Curve that shows the combination of two goods
Attainable and unattainable combinations
Fundamentals of economic perspectives
Theories,Principles and models
The scientific model
Economic principles
Lesson 1
Lesson 2
Microeconomics Versus Macroeconomics
Positive and Normative Economics