Explain and “relate to the real world” a key concept you learned from one of the following topics:

Journal Entry: Can be short and to the point

Explain and “relate to the real world” a key concept you learned from one of the following topics:

Opp costs, marginal analysis, ceteris paribus, basic definitions, budget line, PPCs, Law of Increasing Opp Costs, economic growth, types of economic systems, basic tenets of market system, role of consumer, circular flow model