Unit+1+–+Introduction+to+Economics

=**Introduction to Economics**=

Reading:

 * McConnell & Brue: Chapter 1, Chapter 2, and 90–92
 * Morton & Goodman: Unit 1 (Pages 3–48)

Key Concepts:

 * Scarcity, choice, and opportunity cost
 * Production possibilities curve
 * Comparative advantage, absolute advantage, specialization, and trade
 * Economic systems
 * Factors of production, circular flow

Graphs & Charts:
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 * Production possibilities curve
 * Circular flow diagram