Economics - o Natural-iron ore oceans rivers land o...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Economics-“study of human behavior in the presence of constraints” Why do we have constraints? o Scarcity-not freely abundant in nature (price is zero) Resources-Anything used to produce other goods/services
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: o Natural-iron ore, oceans, rivers, land o Human-knowledge, experience, talent o Physical-tools, machinery, factories (natural/human combined) • Scarcity vs. Poverty...
View Full Document

This note was uploaded on 01/27/2011 for the course ECO 2013 taught by Professor Evans during the Fall '08 term at FSU.

Ask a homework question - tutors are online