1. What are resources?
2. What is scarcity?
3. Normative vs. Positive statements
4. Define Opportunity Cost.
5. Macroeconomics vs. Microeconomics? Examples
6. Parts of a Production Possibilities Graph.
7. Absolute advantage vs. Comparative advantage.
8. Supply and Demand. Movement along a curve vs. shifting of the curve.
9. What causes movement, What causes shifting?
10.Compliments, Substitutes, Normal Goods, Inferior Goods.
11.Price Ceilings vs. Price Floors
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