Chapter One:

Economic Activity in Context

The Goals of an Economy

Table 1.1: A Potential List of Final Goods

Economic Tradeoffs

Figure 1.1: Society’s Production Possibilities Frontier

Figure 1.2: An Expanded Production Possibilities Frontier

Figure 1.3: Society’s Choice between Current Production and Resource Maintenance

Figure 1.4: Possible Future Production Possibilities Frontiers

Microeconomics in Context

Figure 1.5: The Circular Flow Diagram

Figure 1.6: Microeconomics in Context