WHAT TO PRODUCE? ALTERS INTEREST RATES
GOVERNMENT SPENDING
HOW MUCH? CONTROLS CREDIT AVAILABILITY MONETARY POLICY FISCAL POLICY
TAXATION AND PUBLIC INVESTMENT
AT WHAT PRICE? REGULATES BORROWING
MACROECONOMIC POLICY
MAIN QUESTIONS
Achieves its goals through:
HOUSEHOLDS GROWTH
Theory of consumer behavior MICROECONOMICS UNEMPLOYMENT
MACROECONOMICS
WORKERS
Examines the actions of specific agents INFLATION Analyzes the overall economy, focusing
Theory of the firm in the economy: BUSINESSES on general concerns:
TRADE BALANCE
MARKET PRICE DECISIONS IN FOREIGN MARKETS
ECONOMICS
Determined by supply and CAREER
demand interaction Studies trade-offs and choices made in ANALYZE GLOBAL TRENDS
a world of scarcity It allows:
LAND (RENT) DESIGN COMPETITIVE STRATEGIES
LABOR (WAGES) FACTOR COSTS MARKET PRICES AND PROFESSIONAL IMPORTANCE SOCIAL SECTORS
CAPITAL (INTEREST)
Costs related to production
factors FACTOR COSTS (INTERNATIONAL BUSINESS) Employment, consumption, and social welfare
ENTREPRENEURSHIP (PROFIT) PRINCIPLES
ECONOMIC SECTORS
OF Impact on imports and exports
CONSUMER GOODS
CLOTHES
Final products for direct use
ECONOMICS
TYPES OF GOODS SCARCITY PROBLEM CURRENT ISSUE EMPTY SHELVES IN STORES
CAPITAL GOODS
TOOLS AND MACHINES Limited resources cannot satisfy U.S. economy is affected by the CONSEQUENCES DELAYS IN SHIPMENTS
Used to produce other goods PRODUCED BY FIRMS unlimited human wants raise in tariffs on Chinese imports
RISING COSTS
INTERMEDIATE GOODS
CLAY (BRICKS)
Inputs used to produce final goods PRODUCTION POSSIBILITIES FRONTIER Or “Curve”
Moving along involves giving
up one good for another
Represents maximum combinations of goods an
economy can produce with limited resources
COMPARATIVE ADVANTAGE LAW OF DIMINISHING RETURNS
A country produces a good at lower TYPICALLY MORE THAN SOCIETIES FACE EFFICIENCY Adding more of one resource will give
opportunity cost than others 1 SCARCE RESOURCE LIMITED RESOURCES less output
PRODUCTIVE ALLOCATIVE
TRADE-OFF WILL BE LIMITED PRODUCTION EFFICIENCY EFFICIENCY
INCREASINGLY COSTLY
CANNOT PRODUCE MORE MIX OF GOODS THAT
OF ONE GOOD WITHOUT SOCIETY DESIRES MOST
REDUCING ANOTHER
SOURCES:
RAMO, M. (2025, MAY 14). ESCASEZ DE PRODUCTOS Y ESTANTES VACÍOS; EU, A LA SOMBRA DE UNA NUEVA CRISIS. THE LOGISTICS WORLD. RETRIEVED AUGUST 24, 2025, FROM HTTPS://THELOGISTICSWORLD.COM/ABASTECIMIENTO-Y-COMPRAS/ESCASEZ-DE-PRODUCTOS-Y-
ESTANTES-VACIOS-EU-A-LA-SOMBRA-DE-UNA-NUEVA-CRISIS/
GOVERNMENT SPENDING
HOW MUCH? CONTROLS CREDIT AVAILABILITY MONETARY POLICY FISCAL POLICY
TAXATION AND PUBLIC INVESTMENT
AT WHAT PRICE? REGULATES BORROWING
MACROECONOMIC POLICY
MAIN QUESTIONS
Achieves its goals through:
HOUSEHOLDS GROWTH
Theory of consumer behavior MICROECONOMICS UNEMPLOYMENT
MACROECONOMICS
WORKERS
Examines the actions of specific agents INFLATION Analyzes the overall economy, focusing
Theory of the firm in the economy: BUSINESSES on general concerns:
TRADE BALANCE
MARKET PRICE DECISIONS IN FOREIGN MARKETS
ECONOMICS
Determined by supply and CAREER
demand interaction Studies trade-offs and choices made in ANALYZE GLOBAL TRENDS
a world of scarcity It allows:
LAND (RENT) DESIGN COMPETITIVE STRATEGIES
LABOR (WAGES) FACTOR COSTS MARKET PRICES AND PROFESSIONAL IMPORTANCE SOCIAL SECTORS
CAPITAL (INTEREST)
Costs related to production
factors FACTOR COSTS (INTERNATIONAL BUSINESS) Employment, consumption, and social welfare
ENTREPRENEURSHIP (PROFIT) PRINCIPLES
ECONOMIC SECTORS
OF Impact on imports and exports
CONSUMER GOODS
CLOTHES
Final products for direct use
ECONOMICS
TYPES OF GOODS SCARCITY PROBLEM CURRENT ISSUE EMPTY SHELVES IN STORES
CAPITAL GOODS
TOOLS AND MACHINES Limited resources cannot satisfy U.S. economy is affected by the CONSEQUENCES DELAYS IN SHIPMENTS
Used to produce other goods PRODUCED BY FIRMS unlimited human wants raise in tariffs on Chinese imports
RISING COSTS
INTERMEDIATE GOODS
CLAY (BRICKS)
Inputs used to produce final goods PRODUCTION POSSIBILITIES FRONTIER Or “Curve”
Moving along involves giving
up one good for another
Represents maximum combinations of goods an
economy can produce with limited resources
COMPARATIVE ADVANTAGE LAW OF DIMINISHING RETURNS
A country produces a good at lower TYPICALLY MORE THAN SOCIETIES FACE EFFICIENCY Adding more of one resource will give
opportunity cost than others 1 SCARCE RESOURCE LIMITED RESOURCES less output
PRODUCTIVE ALLOCATIVE
TRADE-OFF WILL BE LIMITED PRODUCTION EFFICIENCY EFFICIENCY
INCREASINGLY COSTLY
CANNOT PRODUCE MORE MIX OF GOODS THAT
OF ONE GOOD WITHOUT SOCIETY DESIRES MOST
REDUCING ANOTHER
SOURCES:
RAMO, M. (2025, MAY 14). ESCASEZ DE PRODUCTOS Y ESTANTES VACÍOS; EU, A LA SOMBRA DE UNA NUEVA CRISIS. THE LOGISTICS WORLD. RETRIEVED AUGUST 24, 2025, FROM HTTPS://THELOGISTICSWORLD.COM/ABASTECIMIENTO-Y-COMPRAS/ESCASEZ-DE-PRODUCTOS-Y-
ESTANTES-VACIOS-EU-A-LA-SOMBRA-DE-UNA-NUEVA-CRISIS/
