AP Macro Cheat Sheet: Your Ultimate Guide to Crushing the Exam
Essential Macroeconomic Building Blocks Scarcity, Choice, and Opportunity Cost The starting point of economic reasoning. Every decision we make involves a trade-off. We have unlimited wants and limited resources. Scarcity forces us to make choices, and every choice involves an opportunity cost – the value of the next best alternative forgone. Recognizing this allows you … Read more