Transcript Unit one review

Unit one review
CH. 1 through 3
Econ 53. Describe the characteristics
of command, market, traditional and
mixed economies and how they affect
jobs and standards of living.
• Types of economic systems
• Strengths and weaknesses of ES
• Economic philosophies
Econ 53. Describe the characteristics
of command, market, traditional and
mixed economies and how they affect
jobs and standards of living.
• Factors of production and its returns
• Production possibility curve and economic
growth
• Circular flow model for economy
SSA 59. Demonstrate the skills and
dispositions needed to be a critical
consumer of information.
• Scarcity and decision-making
• Economic reasoning principles
• Marginal decision-making process