Some Tools Of Economic Analysis

The Economic Problem ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Opportunity Cost ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Time and Information ,[object Object],[object Object]

Sunk Cost and Choice ,[object Object],[object Object],[object Object],[object Object]

Law of Comparative Advantage ,[object Object],[object Object]

Law of Comparative Advantage ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Specialization and Exchange ,[object Object],[object Object],[object Object],[object Object],[object Object]

Specialization and Exchange ,[object Object],[object Object],[object Object],[object Object]

Division of Labor ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Production Possibilities Frontier ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Production Possibilities Frontier ,[object Object],[object Object],[object Object]

Exhibit 1: The Economy’s PPF

The Economy’s PPF ,[object Object],[object Object],[object Object],[object Object],[object Object],48 A C D E F B U I 0 10 20 34 43 50 0 10 20 30 40 50 Capital Goods (millions of units per year) Consumer Goods (millions of units per year)

Movements along the PPF ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Factors that can Shift the PPF ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Exhibit 2a: Shifts in the Economy’s PPF

[object Object],[object Object],[object Object],[object Object],[object Object],Exhibit 2b: Shifts in the Economy’s PPF

Exhibit 2c: Shifts in the Economy’s PPF ,[object Object]

Exhibit 2d: Shifts in the Economy’s PPF ,[object Object]

Lessons of PPF ,[object Object],[object Object],[object Object],[object Object]

Three Questions ,[object Object],[object Object],[object Object],[object Object],[object Object]

Economic System ,[object Object],[object Object],[object Object],[object Object],[object Object]

Pure Capitalism ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Pure Capitalism ,[object Object],[object Object],[object Object],[object Object],[object Object]

Flaws in Capitalism ,[object Object],[object Object],[object Object],[object Object],[object Object]

Pure Command System ,[object Object],[object Object],[object Object]

Flaws of Command System ,[object Object],[object Object],[object Object],[object Object],[object Object]

Mixed / Transitional Economies ,[object Object],[object Object],[object Object],[object Object],[object Object]

Some Tools Of Economic Analysis

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Some Tools Of Economic Analysis