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What is Economics? What is Economics?

Economic Choices Economic Choices

Scarcity Scarcity

Scarcity Scarcity

WHAT to produce? WHAT to produce?

HOW to produce? HOW to produce?

For WHOM to produce? For WHOM to produce?

Using Economic Models Using Economic Models

Economic Models Economic Models

Economic Models Economic Models

Micro and Macro Economics Micro and Macro Economics

Making Economic Decisions Making Economic Decisions

Trade-Offs Trade-Offs

Opportunity Cost Opportunity Cost

Measures of Cost Measures of Cost

Measures of Cost Measures of Cost

Cost-Benefit Analysis Cost-Benefit Analysis

Being an Economically Smart Citizen Being an Economically Smart Citizen

Understanding Your Role in the Economy Understanding Your Role in the Economy

Understanding Your Role in the Economy Understanding Your Role in the Economy

Understanding Your Role in the Economy Understanding Your Role in the Economy

Understanding Your Role in the Economy Understanding Your Role in the Economy

Making Wise Choices Making Wise Choices

The American Economy The American Economy

Economic Resources Economic Resources

Producing Goods and Services Producing Goods and Services

Factors of Production Factors of Production

Factors of Production Factors of Production

Factors of Production Factors of Production

Factors of Production Factors of Production

Factors of Production Factors of Production

Gross Domestic Product (GDP) Gross Domestic Product (GDP)

Gross Domestic Product (GDP) Gross Domestic Product (GDP)

Economic Activity and Productivity Economic Activity and Productivity

The Circular Flow of Economic Activity The Circular Flow of Economic Activity

The Consumer Sector The Consumer Sector

The Business Sector The Business Sector

The Government Sector The Government Sector

The Foreign Sector The Foreign Sector

Productivity and Economic Growth Productivity and Economic Growth

Productivity and Economic Growth Productivity and Economic Growth

Productivity and Economic Growth Productivity and Economic Growth

Productivity and Economic Growth Productivity and Economic Growth

Capitalism and Free Enterprise Capitalism and Free Enterprise

Features of Capitalism Features of Capitalism

Features of Capitalism: Markets Features of Capitalism: Markets

Features of Capitalism: Economic Freedom Features of Capitalism: Economic Freedom

Features of Capitalism: Private Property Rights Features of Capitalism: Private Property Rights

Features of Capitalism: Competition Features of Capitalism: Competition

Features of Capitalism: The Profit Motive Features of Capitalism: The Profit Motive

Features of Capitalism: Voluntary Exchange Features of Capitalism: Voluntary Exchange

Spread of Capitalism Spread of Capitalism

Adam Smith and Capitalism Adam Smith and Capitalism