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Unit 1: Basic Economic Concepts

900 possible mastery points

About this unit

Learn how different types of economies make decisions about what to produce and how to distribute resources. We'll introduce key concepts like opportunity costs, trade-offs, and production possibilities. We'll also dive into why specialization and exchange are so important, and how property rights and incentives help keep free markets functioning.
Level up on the above skills and collect up to 160 Mastery points
Level up on the above skills and collect up to 320 Mastery points
Level up on the above skills and collect up to 240 Mastery points
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Unit test

Level up on all the skills in this unit and collect up to 900 Mastery points!
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