AP Notes, Outlines, Study Guides, Vocabulary, Practice Exams and more!

Positive economics

AP Economics Ch.1 outline

Subject: 
Rating: 
0
No votes yet

Christian Boujaoude September 9, 2014 Wolff Pd. 3 AP Economics Ch. 1 Outline I. Intro A. Economics 1. the social science concerned with the efficient use of scarce resources to achieve the maximum satisfaction of economic wants II. The Economic Perspective A. Economic Way of Thinking B. Scarcity and Choice 1. ?There is no free lunch? a. Cost is to society 2. Opportunity costs a. Sacrifices C. Rational Behavior 1. Rational self-interest 2. Utility a. pleasure, happiness, or satisfaction b. to allocate there in time, energy, and money to maximize their well-being 3. The same person may make different choices under different circumstances 4. Choices will vary greatly among individuals 5. Rational decisions may change as costs and benefits change
Subscribe to RSS - Positive economics

Need Help?

We hope your visit has been a productive one. If you're having any problems, or would like to give some feedback, we'd love to hear from you.

For general help, questions, and suggestions, try our dedicated support forums.

If you need to contact the Course-Notes.Org web experience team, please use our contact form.

Need Notes?

While we strive to provide the most comprehensive notes for as many high school textbooks as possible, there are certainly going to be some that we miss. Drop us a note and let us know which textbooks you need. Be sure to include which edition of the textbook you are using! If we see enough demand, we'll do whatever we can to get those notes up on the site for you!