Material Type:
Unit of Study
Firm, Production Possibilities Frontier (PPF), Normative Statements, Allocative Efficiency, Opportunity Set, Sunk Costs, Utility, Invisible Hand, Law of Diminishing Returns, Market Economy, Price, Positive Statements, Cost, Law of Diminishing Marginal Utility, Adam Smith, Productive Efficiency, Slope, Scarcity, Budget Constraint, Tradeoffs, Opportunity Cost, Economic Efficiency, Tradeoff Diagram, Marginal Analysis