Topic 1 _ Part 3 - Scarcity Choice And Opportunity Cost...

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Scarcity, Choice, And Opportunity Cost t FIGURE 2.3a Production Possibilities with No Trade A Graphical Presentation of Comparative Advantage and Gains from Trade Scarcity and Choice in an Economy of Two or More 14 of 50
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Scarcity, Choice, And Opportunity Cost t FIGURE 2.3b Production Possibilities with No Trade A Graphical Presentation of Comparative Advantage and Gains from Trade Scarcity and Choice in an Economy of Two or More 15 of 50
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Scarcity, Choice, And Opportunity Cost Before we saw that both could be better off : Colleen: 170, 170 Bill: 100, 100 16 of 50
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Scarcity, Choice, And Opportunity Cost Scarcity and Choice in an Economy of Two or More 17 of 50 t FIGURE 2.4 Colleen and Bill Gain from Trade
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Scarcity, Choice, And Opportunity Cost Weighing Present and Expected Future Costs and Benefits e trade off present and future benefits in small Scarcity and Choice in an Economy of Two or More 18 of 50 We trade off present and future benefits in small ways all the time.
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Capital Goods and Consumer Goods consumer goods Goods produced for present Scarcity and Choice in an Economy of Two or More 19 of 50 consumption. investment
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Topic 1 _ Part 3 - Scarcity Choice And Opportunity Cost...

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