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Chapter One: Economic Activity in Context. The Goals of an Economy.

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Presentation on theme: "Chapter One: Economic Activity in Context. The Goals of an Economy."— Presentation transcript:

1 Chapter One: Economic Activity in Context

2 The Goals of an Economy

3 Table 1.1: A Potential List of Final Goods

4 Economic Tradeoffs

5 Figure 1.1: Society’s Production Possibilities Frontier

6 Figure 1.2: An Expanded Production Possibilities Frontier

7 Figure 1.3: Society’s Choice between Current Production and Resource Maintenance

8 Figure 1.4: Possible Future Production Possibilities Frontiers

9 Microeconomics in Context

10 Figure 1.5: The Circular Flow Diagram

11 Figure 1.6: Microeconomics in Context


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