Unit 1.1: Introduction to Economics

IB Economics: Unit 1.1: Introduction to Economics

This unit is an introduction to Economics. It starts by looking at the fundamental economic problem of scarcity and develops this by considering how scarcity leads to choice and opportunity cost. The chapter goes on cover to different economic systems that can exist in a country and finishes by looking at the production possibility curve model.The link to the attached pdf is revision material from Unit 1.1: Introduction...

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