Key Terms

Question

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

Economics

Individual choice

Economy

Market economy

Resource

Land

Labor

Physical capital

Human capital

Scarce

Opportunity cost

Microeconomics

Macroeconomics

Economic aggregates

Positive economics

Normative economics

Model

Other things equal assumption

Circular-flow diagram

Household

Firm

Product markets

Factor markets

Trade-off

Production possibility frontier (PPF)

Efficient

Factors of production

Technology

Trade

Gains from trade

Specialization

Comparative advantage

Absolute advantage