Unit 1 Economic Systems Study Notes
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Manchester Community College
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Summary
These are study notes on economic systems, covering topics such as supply and demand, factors of production, and various economic systems. The notes also discuss aspects like globalization, scarcity, opportunity cost, and factors affecting economic health, focusing, in particular, on the GDP growth rate.
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### **[Unit 1 Economic Systems Study Notes]** ### **Supply & Demand** - - - ### **Factors of Production** - - - - ### **Four Economic Systems** - - - - ### **Globalization** - - - ### **Scarcity** - - - ### **Opportunity Cost** - - - ### **W...
### **[Unit 1 Economic Systems Study Notes]** ### **Supply & Demand** - - - ### **Factors of Production** - - - - ### **Four Economic Systems** - - - - ### **Globalization** - - - ### **Scarcity** - - - ### **Opportunity Cost** - - - ### **Why Businesses Exist** - - - ### **Why Societies Develop Economic Systems** - - - ### **Basic Features of Different Economic Systems** - - - - ### **Major Features of the U.S. Economic System** - - - ### **Role of Markets and Prices in the U.S. Economy** - - - ### **Factors that affect economic health of a country** - ### GDP Growth Rate: Represents the percentage change in a country\'s total economic output over a specific period, signifying whether the economy is expanding or contracting. - - -
