What is Economics?
  • So, what is Economics?
Scarcity, choice, and opportunity cost.
  • Scarcity, choice, and opportunity cost.
The three basic economic questions.
  • The three basic economic questions.
Types of economic systems.
  • Types of economic systems.
The factors of production.
  • The factors of production.
The Production Possibilities Curve (PPC)
  • The PPC model.
The Circular Flow of Income Model
  • Circular flow of income in a simple and closed economy.
  • Circular flow of income in a complex and open economy.
End-of-course Assessment
  • End-of-unit reflection question