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Trade Off
Waiter, Snow plower
A person that combines resources to create a new good
Hammer, Car
Giving up 1 thing for another
Technology, Education, More workers
Wilderness destroyed, animals killed, natural beauty harmed
Efficiently
Choices
If oil is mined from Alaska what are opportunity costs of this decision?
Waiter, Snow plower
A person that combines resources to create a new good
Hammer, Car
Giving up 1 thing for another
Technology, Education, More workers
Wilderness destroyed, animals killed, natural beauty harmed
Efficiently
Choices
3- Economics is the study of the ___________ that people and societies make in allocating scarce resources.
Waiter, Snow plower
A person that combines resources to create a new good
Hammer, Car
Giving up 1 thing for another
Technology, Education, More workers
Wilderness destroyed, animals killed, natural beauty harmed
Efficiently
Choices
Service
Waiter, Snow plower
A person that combines resources to create a new good
Hammer, Car
Giving up 1 thing for another
Technology, Education, More workers
Wilderness destroyed, animals killed, natural beauty harmed
Efficiently
Choices
Entrepreneur
Waiter, Snow plower
A person that combines resources to create a new good
Hammer, Car
Giving up 1 thing for another
Technology, Education, More workers
Wilderness destroyed, animals killed, natural beauty harmed
Efficiently
Choices
Good
Waiter, Snow plower
A person that combines resources to create a new good
Hammer, Car
Giving up 1 thing for another
Technology, Education, More workers
Wilderness destroyed, animals killed, natural beauty harmed
Efficiently
Choices
What are 3 ways to move to a new frontier?
Waiter, Snow plower
A person that combines resources to create a new good
Hammer, Car
Giving up 1 thing for another
Technology, Education, More workers
Wilderness destroyed, animals killed, natural beauty harmed
Efficiently
Choices
On a Production Curve: If you are on the line you are producing_____________ ?
Waiter, Snow plower
A person that combines resources to create a new good
Hammer, Car
Giving up 1 thing for another
Technology, Education, More workers
Wilderness destroyed, animals killed, natural beauty harmed
Efficiently
Choices
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