A. Traditional – Custom rules B. Command – Government rules C. Market – Individuals rule D. Mixed 1.) Capitalism 1.) Capitalism 2.) Communism 2.) Communism.
Objectives A. Traditional – “Custom rules” B. Command – “Government rules” C. Market – “Individuals rule” D. Mixed 1.) Capitalism 1.) Capitalism 2.)
Scarcity Choices Opportunity Costs O pportunity Benefit O pportunity Cost Opportunity Set [“what is possible for $10,000”]
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