The basic econ problem

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Basic econ Problem
Scarcity
1 of 5
Peoples wants are unlimited but resources are ...
limited
2 of 5
what is opportunity cost
the cost of the next best alternitive forgone
3 of 5
PPc
thee combination of two goods if all resources are used and employed efficiently
4 of 5
Why does PPC shift out
new tech
5 of 5

Other cards in this set

Card 2

Front

limited

Back

Peoples wants are unlimited but resources are ...

Card 3

Front

the cost of the next best alternitive forgone

Back

Preview of the back of card 3

Card 4

Front

thee combination of two goods if all resources are used and employed efficiently

Back

Preview of the back of card 4

Card 5

Front

new tech

Back

Preview of the back of card 5

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