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Chapter 1: What Is Economics? & Appendix: Graphs in Economics – Study Notes

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Introduction to Economics

Scarcity and Choice

Factors of Production

People Are Rational

Marginal Analysis

People Respond to Incentives

Positive and Normative Analysis

Graphing Review

Graphs of Two Variables

Relationships between Variables

Interpreting Graphs, Correlation, Causation, and Omitted Variables

Slope of Linear Graphs

Slope of a Curve at a Point