Issues such as economics growth, inflation and unemployment
The working of the whole economy
Factors that affect the total demand for goods and services
The behavior of individuals and organizations towards scarce resources
The unemployment rate decrease by 30%.
In 1994, the national income of a country is RM23, 400.00 million.
The price of chicken increases significantly during Hari Raya season.
The economic growth of the country is expected to be 6% in 1995.
Private ownership of resources
Production possibility curve
Price consumption curve
An economy’s capacity to produce increases in proportion to its population size
When all the resources are in use, more of a good can be produced only if none of another is produced
An economy will automatically seek full employment level of output
When resources are efficiently used more of a good can only be produced if less of another is produced
Using the best available technology
Efficient allocation of resources
Factors of production are not fully utilized
Unattainable production in combination of two goods
What to produce
How much to produce
How to produce