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Chapter 2: Trade-offs, Comparative Advantage, and the Market System – Study Notes
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Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency
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06:23
Understanding the PPF
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04:48
PPF - Attainable and Efficient
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PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency
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05:04
PPF - The Law of Increasing Opportunity Costs
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03:33
PPF - Graphing Increasing Marginal Opportunity Costs
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PPF - Growth Analysis
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06:58
Production Possibilities Frontier:Economic Growth Analysis
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Sources of Comparative Advantage
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05:50
Sources of Comparative Advantage
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Factors of Production
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03:09
Land, Labor, and Physical Capital
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02:08
Human Capital and Entrepreneurship
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Circular Flow Diagram
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01:32
Households and Firms
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04:20
The Circular Flow Diagram
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