Economics unit 1
what is economics?
mira
concept of economics (scarcity)
mira
what are the 3 main economic activities?
Production, consumption and distribution
Different types of goods
according to their material nature, their nature and their consumption
What is opportunity cost?
the cost of our choice in terms of the alternative rejected.
What is the Product Possibility Frontier (PPF)?
mira
What is economy growth?
mira
What is GDP?
is the quantity of goods and services produced in a country in a period of time.
What are the reasons of economy growth?
1. more population
2. more natural resources
3. more technology
4. more workers