About this document
1 Environmental Economics by Albert Ziwome is a document available to read on EtoBox.
The document provides an overview of key concepts in economics including defining economics, discussing factors of production, and explaining opportunity cost. Economics is defined as the study of how limited resources are allocated to satisfy unlimited wants. The four main factors of production are land, labor, capital, and entrepreneurship. Opportunity cost refers to the next highest valued alternative forgone when choosing between options.
- Author
- Albert Ziwome
- Language
- EN