Chapter 1:TEN PRINCIPLES OF ECONOMICS
PROPOSE:
1, Learn that economics is about the allocation of scarce resources
2, Examine some of the tradeoffs that people face
3, Learn the meaning of opportunity cost
4, See how to use marginal reasoning when making decisions
5, Discuss how incentives affect people’s behavior
6, Consider why trade among people or nations be good for everyone
7, Discuss why markets are a good, but not perfect, way to allocate resouces.
8, Learn What determines some trends in the overall economy
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