Example: tourism industry
UNIT 1: Basic Economic Concepts - CVUSD Home

UNIT 1: Basic Economic Concepts - CVUSD Home

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are limited (scarcity). 2. Due to scarcity, choices must be made. Every choice has a cost (a trade-off). 3. Everyone’s goal is to make choices that maximize their satisfaction. Everyone acts in their own “self- ... The Production Possibilities Curve and Efficiency. 26.

  Economic, Basics, Unit, Concept, Production, Unit 1, Possibilities, Basic economic concepts, Scarcity, Production possibilities

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