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AP Economics Unit 1
Introduces the fundamental concepts of economics, including scarcity, opportunity cost, and the necessity of choices in resource allocation. It covers the basics of supply and demand, the Production Possibilities Curve (PPC), and comparative advantage, laying the groundwork for understanding how individuals, businesses, and governments make economic decisions.
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- • 4 pages •
Introduces the fundamental concepts of economics, including scarcity, opportunity cost, and the necessity of choices in resource allocation. It covers the basics of supply and demand, the Production Possibilities Curve (PPC), and comparative advantage, laying the groundwork for understanding how individuals, businesses, and governments make economic decisions.