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Economic Choices

Economic Choices. Opportunity Cost and the Production Possibilities Curve Chapter 1, Section Three. Key Assumptions in Economics. People are rationally self-interested They seek to maximize their utility (happy points) People generally make decisions at the margin

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783 views • 23 slides

Jeff Knight

Jeff Knight. AP Economics. Key Assumptions in Economics,Scarcity, Opportunity Cost and Production Possiblities Curve. Key Assumptions in Economics. -People are rationally self- interested -They seek to maximize their utility(happy points) - People generally make decisions at the margin

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173 views • 16 slides

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Incur opportunity cost - PowerPoint PPT Presentation

Economic Choices

Jeff Knight