Download Micro Economics Study Guide PDF Free - Full Version
Download Micro Economics Study Guide by ['Adam R'] in PDF format completely FREE. No registration required, no payment needed. Get instant access to this valuable resource on PDFdrive.to!
About Micro Economics Study Guide
This document provides an overview of key economic concepts covered in chapters 1 and 2 of an economics textbook. It begins by defining economics as the study of how humans coordinate their wants and desires given the constraints of scarcity. The production possibilities model is then introduced to illustrate opportunity costs and efficiency. Comparative advantage is explained as how specialization and trade allow individuals and societies to maximize production. The document notes that increasing marginal costs result in a bowed-out production possibilities curve. It discusses how markets and specialization through trade according to comparative advantage can lead to growth. Globalization integrates economies through increasing trade based on these principles.
Detailed Information
| Author: | ['Adam R'] |
|---|---|
| Publication Year: | 2015 |
| Pages: | 74 |
| Language: | English |
| Format: | |
| Price: | FREE |
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