THE INVISIBLE HAND IS FOLLOWING YOU!! Beware!
HW: Create a ‘pictoword’ for 5 concepts: Scarcity, Value, utility, wealth, Opportunity-cost, escalating expectations, goods, services, entrepreneurship, capital, factors of production, labor.
Read Profiles in Economics... Explain the ‘Invisible Hand’ and laissez-faire;
answer 1,2
Read 19-21 Explain Trade offs, opportunity cost
Complete questions on Figure 1.5 and Economic Choices cartoon on 21
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