MicroeconomicsStudyTopics - MICROECONOMICS- FINAL EXAM-...

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MICROECONOMICS- FINAL EXAM- STUDY Topics CHAP 1 –The Economizing problem –Unlimited wants/scarce resources –Productions possibilities curve –Law of increasing opportunity costs –Economic Resources –Micro vs. Macro CHAP 2 Command vs. Market System Characteristics of the Market System Private property – freedom of choice Self-interest – competition – specialization 5 Questions? What gets produced, How, Who, Change, Progress? “Invisible Hand” The Circular Flow Model – HHs & Business, Resource CHAP 3 3. Demand, Supply & Market Equilibrium Law of Demand – Law of Supply Equilibrium CHAP 4
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MicroeconomicsStudyTopics - MICROECONOMICS- FINAL EXAM-...

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