At the end of this set of notes, you should be able to explain:
1. The basic economic problem
2. Resource allocation systems
3. Free market system
4. Command (planned) economy system
5. Mixed economies
6. Production possibility curve (PPC)
At the end of this set of notes, you should be able to explain:
1. The basic economic problem
2. Resource allocation systems
3. Free market system
4. Command (planned) economy system
5. Mixed economies
6. Production possibility curve (PPC)