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Note by m-said256, updated more than 1 year ago
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Created by m-said256
over 10 years ago
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Copied to Note by m-said256
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Page 1
Scarcity Human wants. Unlim. Goods & Serv. Copper in US Means. Lim. Choice Prod. Of. G&S's Production How? Who? Opportunity cost incr. Prices also incr.
Dem & Supply Demand Supply Rel. 2 wants Increase income Increase quantity
F.O. prod. Land & raw mater. Labour Capital Nat. res. Hum. inp Finance
Opport. costs Benefit Prod. bett resul Alternative
C. O prod Fixed Variable Rent paid Costs Local auth Output Higher prod Higher Var. costs
Microeconomics
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