Unit I: Basic Economic Concepts What is Economics in General? Economics is the study of _________. Economics is the science of scarcity. Scarcity is.
Characteristics of the Ideal Classroom 1.Fun and Meaningful Activities 2.No Busy Work 3.Manageable Assignments 4.Energy and Enthusiasm 5.Humor 6. Varied.
Ap macro unit_1_summary
Unit 1 review_session
Functions In everyday language the word “function” has at least two separate meanings I can think of: A. The purpose of something, as in “The function.
1. Unit 1: Basic Economic Concepts 2 “Econ, Econ” Econ.
Economics “Econ, Econ” Econ. Introduction to Economics I WON THE LOTTERY! I’ll give you anything you want other than money. What do you want? Would your.
Unit I: Basic Economic Concepts Economics Defined Economics-Social science concerned with the efficient use of limited resources to achieve maximum satisfaction.
1. Define “scarcity” 2. What are the four factors of production? 3. What is the difference between “labor” and “human capital”? 4. What is a trade-off?
AP Economics “Econ, Econ” Econ. Terms to know: Scarcity Economics Microeconomics vs. Macroeconomics Trade-off Marginal Costs Marginal Benefits Positive.
Unit I: Basic Economic Concepts