Economic Thinking and Choice
This subject covers Scarcity, Trade-offs and Opportunity Cost, Marginal Thinking, Incentives and Sunk Costs, Production Possibilities, Efficiency and Comparative Advantage, and Economic Models, Data and Limits of Inference.
Read the whole first subject without an account: its lessons, summary and review questions.
Subject lessons
- Lesson 1 Scarcity, Trade-offs and Opportunity Cost
- Lesson 2 Marginal Thinking, Incentives and Sunk Costs
- Lesson 3 Production Possibilities, Efficiency and Comparative Advantage
- Lesson 4 Economic Models, Data and Limits of Inference
- Integrated subject summary Review questions
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