Unit 1

in a marginal benefit analysis

Not a ROLE of GOVERNMENT in a market economy

Consumer protection policies

Not a social economic goal of a market economy

Opportunity cost if you move from point d to point c

What you would have done if you had not made the choice you did

Not Increased productivity

Revenue-costs

Reason to do or not to do

focus on what we’re best at

For society to have a surplus we each specialize and divide the

To the left of the ppf

Productive efficiency

illustrates opportunity costs

Knowledge, skills and training

No fraudulent trade

Scarcity

Not an economic question used to identify economic systems