What is Economics?. The study of choice under the conditions of scarcity. Microeconomics-study of the behavior and decision making by small units such.
Chapter 3. Section 3.1 Objectives Define the concept of an economy List the factors of production Explain the concept of scarcity Discuss how traditional,
TOPIC: THE FACTORS OF PRODUCTION LEARNING OBJECTIVES: At the end of this topic, you should be able to: Define the term ‘factors of production’. Briefly.
Section 3.1 What Is an Economy?
Unit 1.1 Nature of Business Activity
Principles of Economics
