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Unit 1: Basic economics concepts
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Fundamental concepts like scarcity, opportunity cost, and supply and demand form the basis for the study of macroeconomics. How can individuals and nations engage in mutually advantageous trade? This is where it starts.Learn
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- Introduction to scarcity and the economic way of thinkingGet 3 of 4 questions to level up!
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- Opportunity cost and the PPCGet 3 of 4 questions to level up!
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- Comparative advantage and the gains from tradeGet 3 of 4 questions to level up!
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- DemandGet 3 of 4 questions to level up!
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- Market equilibrium and disequilibriumGet 3 of 4 questions to level up!
- Changes in equilibriumGet 3 of 4 questions to level up!
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