1.1 Econ

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  • Created by: belenchis
  • Created on: 24-04-18 18:50
Scarcity and the economic problem
Unlimited wants and scarce reasources
1 of 5
Opportunity cost
next best alternative forgone
2 of 5
Production Possibility Curve
belly capital goods vs. consumer
3 of 5
Causes of positive economic growth
improvements in tech, and education. Discovery of natural reasources, increase in labour, more capital good
4 of 5
Causes of negative economic growth
destruction of natural resources, less prodictive labour, less capital goods
5 of 5

Other cards in this set

Card 2

Front

Opportunity cost

Back

next best alternative forgone

Card 3

Front

Production Possibility Curve

Back

Preview of the front of card 3

Card 4

Front

Causes of positive economic growth

Back

Preview of the front of card 4

Card 5

Front

Causes of negative economic growth

Back

Preview of the front of card 5

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