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Why does scarcity exist
How is opportunity cost defined
What do economist call the cost of one unit increase in activity
How would economist describe making a rational choice
What do economist mean by an incentive
What is a capital good
What are the categories for factors of production
What things lead to increases in human capital
What two groups of decision makers are represented in the basic circular flow
What is the difference between the two markets in the circular flow model
What does the Production Possibilities Frontier illustrate
How is unemployment shown on a PPF diagram
What is the formula for calculating the opportunity cost of producing one more unit of product
Why do opportunity costs increase as we move along a country's PPF
How do economist define economic growth
What is the opportunity cost of economic growth and what is the benefit
What is the relationship of comparative advantage and absolute advantage
What is the definition of comparative advantage
What do economist mean by the phrase quantity demanded
How would a change in the number of buyers affect the demand for a good
