allocation of a nation's scarce resources between competing uses that represent infinite wants.

deciding between alternative uses of scarce resources.

basic requirements for human survival

when choosing between different alternatives it is the benefit lost from the next best alternative.

a line which shows the different combinations of two goods an economy can produce if all resources are used up.

the amount of resources available is limited.

peoples' desires for goods and services.

What does 'g' represent?

What does 'i' represent?

What does 'a' represent?