Below are the question

What is Economics?

Part 1

Make a list of 10 recent trade-offs. What were the opportunity costs you faced for

each?

Part 2

Choose a product/service & list the elements of the four factors of production which

went into the making of the product or providing the service.

Part 3

A) Depict a unique example of a production possibilities graph. Be sure to label points,

at a minimum, inside, on and outside the line. Make sure your picture is labeled with a

title and with both axis labeled, also. Choose a pair of related goods or services.

B) Explain, in a minimum of one paragraph, what the points on the graph represent.