Unit 1 Notes - them to produce something else • Economic...

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

View Full Document Right Arrow Icon
3 questions societies must answer o What will be produced o How will it be produced o Who will get what is produced Opportunity cost - using resources to produce one good or service implies not using
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: them to produce something else. • Economic growth occurs when society produces more, either by acquiring more resources or by learning to produce more with existing resources....
View Full Document

This note was uploaded on 04/02/2011 for the course ECON 220 taught by Professor Theresiaa.wansi during the Fall '10 term at American InterContinental University.

Ask a homework question - tutors are online