a) Scarcity, choice and opportunity cost
b) Positive and normative statements
c) Factors of production
d) Resource allocation in different economic systems and issues of transition
e) Production possibility curves
f) Money
g) Classification of goods and services • free goods, private goods (economic goods) and public goods
a)Efficient resource allocation
b) Externalities and market failure
c) Social costs and benefits; cost-benefit analysis
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