Macroeconomics: Principles and Policy notes

Macroeconomics Chapter 3 Last document update:   ago

This notes go over 3-1 Scarcity, Choice, and Opportunity Cost A. Opportunity Cost and Money Cost B Optimal Choice: Not just any choice 3-2 Scarcity and Choice for a Single Firm A. Production Possibilities Frontier B. The Principle of Increasing Costs 3-3 Scarcity and Choice for the Entire Society A. Scarcity and Choice Elsewhere in the Economy 3-4 The Concept Of Efficiency 3-5 The Three Coordination Tasks of Any Economy 3-6 Task 1. How the Market Fosters Efficient Resource Allocation A. The Wo...