Unit 1 downloads
unit 1 vocabulary
UNIT 1 SUMMARY
Unit 1 covers all of the fundamentals of economics. This includes the concept that every time we make a decision, it incurs a cost. We can't have everything we want because of scarcity, which is why we are forced to make decisions in the first place. It all comes back to economics!
Maybe you thought economics was all about money and investments, but really it's all about the choices we make in life (and why we make those choices). Unit 1 deals a lot with vocabulary terms that you may not be familiar with, so I would suggest making flash cards of the terms below.
UNIT 1 KEY TERMS
Learn these terms to be successful on the Unit 1 exam!