TradeOffs, Comparative Advantage, and the Market System 管理经济学 技术方案.pptVIP

Trade-Offs, Comparative Advantage,and the Market System; After studying this chapter, you should be able to: Use a production possibilities frontier to analyze opportunity cost and trade-offs. Understand comparative advantage and explain how it is the basis for trade. Explain the basic idea of how a market system works.;Production Possibilities Frontiers and Real-world Trade-offs;Production Possibilities Frontiers and Real-world Trade-offs; ;Trade;Trade;Trade;Trade;Trade; ;The Market System;The Market System;The Market System;The Market System;The Market System;The Market System;BMW’s Net Profit Rises 2.5% as New Models Benefit Sales;Absolute advantage Circular-flow diagram Comparative advantage Economic growth Entrepreneur Factor markets Market