Economia

Enrique Tejada 949646
Ana Lucia Soto 942465

1.
* Trade Off: Are the alternative that must be given up when one is chosen rather tan another.
* Opportunity Cost: Is the of the second ornext best choice that we could have made.
* Production Possibilities Frontier: It’s a curve that illustrates the production possibilities for the economy.
* Economic Model: Is a simplifiedequation, graph, or figure showing how something works.
* Cost-benefit analysis : A way of comparing the costs of an action to the benefits received.
* Free enterprise economy: Economic system inwich the factors of production are subject to private appropriation and used to obtain benefits fot their owners.
* Standar of living: The quality of life based on the ownership of the necessitiesand luxuries that make life easier.
2.
Trade Offs
Credit for the cell phone
A sandwich
A desodorant
A notebook
A tape
Top 2 choices
Credit for the cell phone
A sandwich
Final Choice
Credit forthe cell phone
Opportunity Cost
I will still have a so hungry, and the cost for me is about my happiness.

3. The economist recommended used the decision-making grid, analysis the disadvantagesand advantages, cost-benefits.
4. Its Important Fot the governments because they know what are the best options to invest money and grow the economy and benefits
5. Economics play a importantmember in the politics because work as a incentive in the individuals for vote for the best politic, the major invest in the economy. Also work as a help for the government with all inversion in thetown.
6. What does it mean when the frontier shifts outward?
Its means that the resources grow up and the production possibilities frontier grow up too . the economy grow up.
What possible causesexist for such a shift?
The possible causes are the population may grow, the stock of capital may expand technology may improve, or productivity may increase. Made possible by having more resources or...