Masalah Ekonomi

The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
C H APT E R
The Circular F
low Model
Key Terms
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End
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2-1
Copyright McGraw-Hill/Irwin, 2002
The
Economizing
Problem
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
THE FOUNDATION OF
ECONOMICS
SOCIETY HAS VIRTUALLY
UNLIMITED WANTS...
The Circular F
low Model
Key Terms
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Next
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End
Show
2-2
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
THE FOUNDATION OF
ECONOMICS
SOCIETY HAS VIRTUALLY
UNLIMITED WANTS...
The Circular F
low Model
Key Terms
Previous
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End
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2-3
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BUT LIMITED OR SCARCE

PRODUCTIVE RESOURCES!
GOODS & SERVICES PROVIDE...

The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
UTILITY
The Circular F
low Model
Key Terms
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Next
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End
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2-4

The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
UTILITY
LUXURIES
The Circular F
low Model
Key Terms
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End
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2-5

The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
UTILITY
LUXURIES vs. NECESSITIES
The Circular F
low Model
Key Terms
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End
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2-6
SCARCE RESOURCES
The Foundation
of Economics
ECONOMIC RESOURCES
Employment and
Efficiency
PROPERTY RESOURCES
Unemployment,
Growth, and th
e Future
Economic Syst
ems
LAND
The Circular F
low Model
Key Terms
Previous
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Next
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End
Show
2-7
SCARCE RESOURCES
The Foundation
of Economics
ECONOMIC RESOURCES
Employment and
Efficiency
PROPERTY RESOURCES
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
LAND
CAPITAL
Key Terms
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End
Show
2-8
SCARCE RESOURCES
The Foundation
of Economics
ECONOMIC RESOURCES
Employment and
Efficiency
PROPERTY RESOURCES
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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LAND
Notes...
INVESTMENT
REAL
CAPITAL
CAPITAL
FINANCIAL
CAPITAL
Next
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End
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2-9
SCARCE RESOURCES
The Foundation
of Economics
ECONOMIC RESOURCES
Employment and
Efficiency
PROPERTY RESOURCES
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
LAND
CAPITAL
Key Terms
HUMAN RESOURCES
Previous
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End
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2 - 10
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SCARCE RESOURCES
The Foundation
of Economics
ECONOMIC RESOURCES
Employment and
Efficiency
PROPERTY RESOURCES
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
LAND
CAPITAL
Key Terms
HUMAN RESOURCES
Previous
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End
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2 - 11
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LABOR
SCARCE RESOURCES
The Foundation
of Economics
ECONOMIC RESOURCES
Employment and
Efficiency
PROPERTY RESOURCES
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
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End
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2 - 12
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LAND
A/K/A
Factors
CAPITAL
Of
HUMAN RESOURCES
Production
LABOR
ENTREPRENEURIAL ABILITY
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
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2 - 13
ENTREPRENEURIAL
ABILITY
Takes The Initiative

Makes Policy Decisions
Innovator
Next
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The Risk Bearer

RESOURCE PAYMENTS
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
PROPERTY RESOURCES
RENTAL
LAND
INCOME
INTEREST
CAPITAL
INCOME
HUMAN RESOURCES
LABOR
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End
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ENTREPRENEUR
WAGES
PROFIT &
LOSS
ECONOMICS & EFFICIENCY

The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
Full Employment
Full Production
The Circular F
low Model
Productive Efficiency
Key Terms
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End
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Allocative Efficiency
PRODUCTION POSSIBILITIES
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
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End
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Assumes...
Efficiency
Fixed Resources
Fixed Technology
Two Products
for examp
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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A Consumer Good
Assumes...
Efficiency
P
IZ Resources
Fixed
ZA
Fixed Technology
Two Products
for examp
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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2 - 18
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A Capital Good
Assumes...
Efficiency
R
Fixed Resources
OB
AR OT
Fixed Technology
MS
Two Products
for examp
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
What if we could only pr

10,000 Robot Arms
or
400,000 Pizzas
The Circular F
low Model
Key Terms
Previous
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End
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2 - 19
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Using all of our resources, to

get some pizza, we must give
up some robot arms!
for example.
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
in table form
PIZZA
Robots
(in thousands)
Key Terms
End
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2 - 20
(in hundred thousands)
The Circular F
low Model
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10
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
in table form
PIZZA
End
Show
2 - 21
Robots
10
(in thousands)
graphical form
Robots
Key Terms
Previous
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Next
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(thousands)
The Foundation
of Economics
Pizzas (hundred thousands)
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
in table form
PIZZA
End
Show
2 - 22
Robots
10
(in thousands)
graphical form
Robots
Key Terms
Previous
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Next
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(thousands)
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
in table form
PIZZA
End
Show
2 - 23
Robots
10
(in thousands)
graphical form
Robots
Key Terms
Previous
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Next
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(thousands)
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
in table form
PIZZA
End
Show
2 - 24
Robots
10
(in thousands)
graphical form
Robots
Key Terms
Previous
Slide
Next
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(thousands)
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
in table form
PIZZA
End
Show
2 - 25
Robots
10
(in thousands)
graphical form
Robots
Key Terms
Previous
Slide
Next
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(thousands)
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
in table form
PIZZA
End
Show
2 - 26
Robots
10
(in thousands)
graphical form
Robots
Key Terms
Previous
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Next
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(thousands)
The Foundation
of Economics
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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2 - 27
Next
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Limited Resource
a limited output.
At any point in time,

a full-employment, fullproduction economy
must sacrifice some of
product X to obtain
more of product Y.
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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Next
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Q 14
Robots (thousands)
The Foundation
of Economics
13
12
11
10
9
8
7
6
5
4
3
2
1
Unattainable
B
C
Attainable
& Efficient
Attainable
but
Inefficient
1
E
4
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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Next
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Q 14
Robots (thousands)
The Foundation
of Economics
13
12
11
10
9
8
7
6
5
4
3
2
1
Notes...
Unattainable
LAW OF INCREASING
A OPPORTUNITY
COSTS
B
The amount
of other
C
W
products that must be
forgone or D
sacrificed to
Attainable
obtain 1 unit of a specific
product is called the & Efficient
Attainable
opportunity
cost of that
but
good.
Inefficient
E
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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2 - 30
Next
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Q 14
Robots (thousands)
The Foundation
of Economics
Notes...
13
12
LAW OF INCREASING
11 A
OPPORTUNITY
COSTS
B
10 A graph of the production
C
9
W
possibilities
curve
will be
8
7 CONCAVE -Dbowed out from
6 the origin.
5
Attainable
4 Economic resources are
but
3
completely adapt2 not
Inefficient
able
to other uses.
1
E
Unattainable
Attainable
& Efficient
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
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Allocative Efficiency: MB=MC

P
Marginal Benefit & Cost
The Foundation
of Economics
MC
$15
MB=MC
10
MB
1
Quantity of Pizzas
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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2 - 32
Next
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Q 14
Robots (thousands)
The Foundation
of Economics
Unemployment &
Underemployment
Shown by Point U
13
12
11
10
9
8
7
6
5
4
3
2
1
More of either or
both is possible
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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2 - 33
Next
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Q 14
Robots (thousands)
The Foundation
of Economics
13
12
11
10
9
8
7
6
5
4
3
2
1
Notes...Unemployment
Economic Growth
&
Underemployment
The ability to produce
by- Point U
a largerShown
total output
a rightward shift of
the production
More
of
either
or
U
possibilities curve
caused by... both is possible
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
Show
2 - 34
Next
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Q 14
Robots (thousands)
The Foundation
of Economics
13
12
11
10
9
8
7
6
5
4
3
2
1
Notes...Unemployment
Economic Growth
&
Underemployment
1 - Increases
in
resources
Shown
by Point U
2 - Better resource
U quality - More
of either or
both is possible
3 Technological
advances
1
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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Next
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Q 14
Robots (thousands)
The Foundation
of Economics
13
12
11
10
9
8
7
6
5
4
3
2
1
Economic
Growth
E
1
Two Examples of
FAVORING
Economic
Growth
The Foundation
of Economics
Employment and
Efficiency
The Circular F
low Model
Key Terms
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PRESENT GOODS
Goods for the Future
Unemployment,
Growth, and th
e Future
Economic Syst
ems
CURRENT
CURVE
FUTURE
CURVE
CONSUMPTION
Goods for the Present

Two Examples of
FAVORING
FAVORING
Economic
Growth
Employment and
Efficiency
The Circular F
low Model
Key Terms
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End
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2 - 37
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PRESENT GOODS
Unemployment,
Growth, and th
e Future
Economic Syst
ems
CURRENT
CURVE
FUTURE
CURVE
CONSUMPTION

FUTURE GOODS
The Foundation
of Economics
CONSUMPTION
FUTURE
CURVE
CURRENT
CURVE
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
Applications
Unemployment and
...
Productive Inefficiency
The Circular F
low Model
Key Terms
Previous
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End
Show
2 - 38
Next
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The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
Show
2 - 39
Applications
Unemployment and
...
Tradeoffs and
Opportunity Costs
Next
Slide
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
Show
2 - 40
Next
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Applications
Unemployment and
...
Tradeoffs and
Opportunity Costs
Shifts and the Production
Possibilities Curve
ECONOMIC SYSTEMS
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
THE MARKET SYSTEM

Pure Capitalism
Laissez-faire
The Circular F
low Model
Key Terms
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End
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ECONOMIC SYSTEMS
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
Key Terms
Previous
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End
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THE MARKET SYSTEM

Pure Capitalism
Laissez-faire
THE COMMAND SYSTEM
Socialism
Communism
CIRCULAR FLOW MODEL

The Foundation
of Economics
Employment and
Efficiency
RESOURCE
MARKET
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
BUSINESSES
HOUSEHOLDS
Key Terms
Previous
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End
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Next
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PRODUCT
MARKET
CIRCULAR FLOW MODEL

The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
RESOURCE
MARKET
RESOURCES
INPUTS
BUSINESSES
HOUSEHOLDS
Key Terms
Previous
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End
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2 - 44
Next
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PRODUCT
MARKET
CIRCULAR FLOW MODEL

The Foundation
of Economics
$ COSTS
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
$ INCOMES
RESOURCE
MARKET
RESOURCES
INPUTS
BUSINESSES
HOUSEHOLDS
Key Terms
GOODS &
SERVICES
Previous
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End
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2 - 45
Next
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GOODS &
SERVICES
PRODUCT
MARKET
CIRCULAR FLOW MODEL

The Foundation
of Economics
$ COSTS
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
$ INCOMES
RESOURCE
MARKET
RESOURCES
INPUTS
BUSINESSES
HOUSEHOLDS
Key Terms
GOODS &
SERVICES
Previous
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End
Show
2 - 46
Next
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GOODS &
SERVICES
PRODUCT
MARKET
CIRCULAR FLOW MODEL

The Foundation
of Economics
$ COSTS
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
$ INCOMES
RESOURCE
MARKET
RESOURCES
INPUTS
BUSINESSES
HOUSEHOLDS
Key Terms
GOODS &
SERVICES
Previous
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End
Show
2 - 47
Next
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GOODS &
SERVICES
PRODUCT
MARKET
$ REVENUE
$ CONSUMPTION
CIRCULAR FLOW MODEL

The Foundation
of Economics
$ COSTS
$ INCOMES
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
RESOURCE
MARKET
Chapter
Conclusions
RESOURCES
INPUTS
BUSINESSES
HOUSEHOLDS
Key Terms
GOODS &
SERVICES
Previous
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End
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GOODS &
SERVICES
PRODUCT
MARKET
$ REVENUE
$ CONSUMPTION
economizing problem
utility
economic resources
land
capital
investment
labor
entrepreneurial ability
factors of production
full employment
full production
productive efficiency
allocative efficiency
consumer goods
capital goods
production possibilities table

production possibilities curve
opportunity cost
law of increasing opportunity
costs
economic growth
economic system
market system
capitalism
command system
resource market
product market
circular flow model
BACK
END
Chapter 3
The Foundation
of Economics
Employment and
Efficiency
Unemployment,
Growth, and th
e Future
Economic Syst
ems
The Circular F
low Model
INDIVIDUAL MARKETS
DEMAND & SUPPLY
Key Terms
Previous
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End
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The Foundation

Copyright McGraw-Hill/Irwin, 2002

Copyright McGraw-Hill/Irwin, 2002

BUT LIMITED OR SCARCE

GOODS & SERVICES PROVIDE...

Copyright McGraw-Hill/Irwin, 2002

GOODS & SERVICES PROVIDE...

Copyright McGraw-Hill/Irwin, 2002

GOODS & SERVICES PROVIDE...

Copyright McGraw-Hill/Irwin, 2002

Copyright McGraw-Hill/Irwin, 2002

Copyright McGraw-Hill/Irwin, 2002

Copyright McGraw-Hill/Irwin, 2002

Copyright McGraw-Hill/Irwin, 2002

Takes The Initiative

The Risk Bearer

ECONOMICS & EFFICIENCY

What if we could only pr

Using all of our resources, to

(in hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

(in hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

(in hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

(in hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

(in hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

(in hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

(in hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

At any point in time,

Pizzas (hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Allocative Efficiency: MB=MC

Marginal Benefit & Cost

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Pizzas (hundred thousands)

Copyright McGraw-Hill/Irwin, 2002

Goods for the Present

Goods for the Present

Goods for the Future

Copyright McGraw-Hill/Irwin, 2002

Copyright McGraw-Hill/Irwin, 2002