Economic Problem

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OTD - Chapter 6 Org. Structure, specialization & Coordination

Ved Sander van der Kolk

John Locke By Erin Lundy

Ved erin lundy

BLITZ

Ved c b

WHO AM I - JOANNE NGUYEN

Ved Nguyen Joanne

Economic Problem

Economic Coordination

Circular flows in the market economy

Property Rights

Money

Markets

Companies

Economic growth

cost of economic growth

Marginal cost

Cost of producing an additional unit of the same

Production possibility frontier (PPF)

Opportunity cost -> Sacrifice of a product

Through PPF ->Swap

Around PPF->Optimal

Out PPF ->Unattainable

Inside PPF->Attainable