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Textbook Notes for Logan Mc Leod

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PSUECON 102Logan Mc LeodSummer

ECON 102 Chapter Notes - Chapter 2: Opportunity Cost, Comparative Advantage, Forego

OC2580645 Page
7 Mar 2014
19
Production possibilities curve (ppc) - a graph representing all possible combinations of maximum outputs that could be produced assuming a fixed amount
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PSUECON 102Logan Mc LeodSummer

ECON 102 Chapter Notes - Chapter 1: Inductive Reasoning, Price System, Free Market

OC2580642 Page
7 Mar 2014
27
Economics - the study of how people allocate their limited resources to satisfy their unlimited wants. Labor - physical and mental efforts of human bei
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