Scarcity, possibilities, preferences and opportunity cost

How do you decide what to produce or trade? How can you maximize happiness in a world of scarcity. What are you giving up when you choose something (i.e., opportunity cost)?

Comparative advantage and gains from trade

Should you try to produce everything yourself or only what you are best at and trade for everything else? What if you're better than your trading partners at everything? This tutorial focuses on comparative advantage, specialization and gains from trade with a microeconomic lens.