Basic Economics concept Table of contents: I Introduction to economic concept and tools     Scarcity     Scarcity in Economics     Planned econ…

Opportunity cost Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen)…

Factors that Shift the Supply Curve We list and explain three factors that shift a supply curve:     Change in input costs: An increase in input costs …