Economics Chapter 1 Section 2

Definethe three factors of production and the differences between physical and human capital. Money that is left after expenses have been paid for from a bu. The income people receive in return for supplying factors of p.

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Economics chapter 1 section 2. Choose from 500 different sets of chapter 1 section 2 economics flashcards on quizlet. Start studying economics chapter 1 section 1 2. An idea that a country decides to produce more military goods guns but has fewer resources to produce consumer goods butter and vice versa.

Learn chapter 1 section 2 economics with free interactive flashcards. There are two main branches of economics. Chapter 1 section 2 copyright pearson education inc.

Measuring economic performance. Learn vocabulary terms and more with flashcards games and other study tools. Learn vocabulary terms and more with flashcards games and other study tools.

Economic systems and the global economy. Explainwhy every decision involves trade offs. Describehow people make decisions by thinking at the margin.

Explainhow scarcity affects the factors of production. Summarizethe concept of opportunity cost. Chapter 1 section 1 copyright pearson education inc slide 3.

Chapter 13 fiscal and monetary policy. Competition and markets. Explainwhy scarcity and choice are the basis of economics.

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