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This Concept Map, created with IHMC CmapTools, has information related to: ECONOMICS CMAP1 ICO DSLOMET, Production Possiblilities Frontier is dependent upon ECONOMICS, Capital Goods OUTPUT of PPF Production Possiblilities Frontier, Comparative Advantage Compared to others Consumption Goods, Scarcity INPUT to PPF Production Possiblilities Frontier, Equilibrium Price Supply = Demand Supply, Demand is dependent upon ECONOMICS, Capital includes limited resources of Scarcity, Marginal Utility Used to determine Marginal Analysis, Scarcity Can cause a Shortage, Cross-Price Elasticity using different products Inferior Good, Price Level Above Equilibrium Price Surplus, Land includes limited resources of Scarcity, Consumption Goods OUTPUT of PPF Production Possiblilities Frontier, Comparative Advantage Compared to others Capital Goods, Marginal Analysis used to determine Opportunity Cost, Cross-Price Elasticity using different products Normal Good, Shortage Supply < Demand Supply, Inferior Good Consumer may purchace Shortage, Price Level sets Equilibrium Price, Equilibrium Price Supply = Demand Demand