Introduction
What is Economics? text version | Open What is Economics? in a new tab
Following successful completion of this lesson, students will be able to...
- define wants, needs, scarcity, marginal benefits, marginal costs, and economics.
- explain the problem of scarcity.
- evaluate a decision using marginal benefit and marginal cost analysis.
The above objectives correspond with the Alabama Course of Study: Economics standards: 1, 1.1, 2.2.