Economics
Damelin (DCC)
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Introduction to economics
- Summary • 10 pages • 2021
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We introduce you to economics. We introduce you to important concepts of scarcity, choice and opportunity cost. We explain these concepts with the aid of a production possibilities curve. Next we use production possibilities curves to illustrate different situations. We explain why economics is a social science, the difference between micro economics and macroeconomics, and the difference between positive and normative economics.
Summary
Introduction to economics
Last document update:
ago
We introduce you to economics. We introduce you to important concepts of scarcity, choice and opportunity cost. We explain these concepts with the aid of a production possibilities curve. Next we use production possibilities curves to illustrate different situations. We explain why economics is a social science, the difference between micro economics and macroeconomics, and the difference between positive and normative economics.
R50,00
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