Economics Chapter 1, Section 3

Simplified representations of complex economic activities, systems, or problems- to clarify trade-offs.

The want or frequent request for an item can also be called

The availabilty of a specific item is determined based upon its available:

A graph used to illustrate the maximum number of goods or services that can be produced using limited resources

The most important economics law/theory discussed in Chapter 1, Section 3 is the