Economic Theory and the Market · Contemporary
The Problem of Scarcity
Defining the basic economic problem and the concept of opportunity cost.
Key Questions
- 1Why can't we have everything we want?
- 2How do individuals and societies make trade-offs?
- 3Is scarcity a social construct or a physical reality?
Ontario Curriculum Expectations
ON: The Individual and the Economy - Grade 11ON: Fundamentals of Economics - Grade 11
Grade: Grade 11
Subject: Canadian & World Studies
Unit: Economic Theory and the Market
Period: Contemporary
Suggested Methodologies
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