An introduction to the concepts of scarcity, choice, and opportunity cost.

Unfortunately, it's not possible for a country to maximize both its environmental protection and its economic output. Each country must make a decision about how the two goals should be balanced and how to achieve that balance.

This site from the St. Joseph's College examines the importance of scarcity and choice in terms of an economic system. A further explanation explores how various people have constructed utopias to assume away the problem of scarcity.

See examples of how perfectly competitive firms decide how much to produce.

A short analysis published in May 1999 by International Food Policy Research Institute of China's agricultural policies since 1978 and what the future might hold for China in the area of farming and food supply.

In this lesson summary, review the key concepts, key terms, and key graphs for understanding opportunity cost and the production possibilities curve.

This lesson focuses on total utility and marginal utility including definitions and examples.