Subject:
Economics
Material Type:
Unit of Study
Level:
Community College / Lower Division, College / Upper Division
Provider:
Rice University
Tags:
Budget Constraint, Law of Diminishing Marginal Utility, Production Possibilities Frontier (PPF), Scarcity, Normative Statements, Positive Statements, Marginal Analysis, Slope, Allocative Efficiency, Opportunity Cost, Market Economy, Law of Diminishing Returns, Firm, Productive Efficiency, Invisible Hand, Opportunity Set, Price, Adam Smith, Tradeoffs, Cost, Economic Efficiency, Tradeoff Diagram, Sunk Costs, Utility
License:
Creative Commons Attribution 4.0