Texas Education Agency
Texas Gateway: How Individuals Make Choices Based on Their Budget
By the end of this section, you will be able to calculate and graph budgets constraints, explain opportunity sets and opportunity costs, evaluate the law of diminishing marginal utility, and explain how marginal analysis and utility...
Texas Education Agency
Texas Gateway: Chapter 2: Choice in a World of Scarcity: Key Concepts & Summary
This section focuses on the key concepts and a summary of macroeconomics covered in Chapter 2: Choice in a World of Scarcity from the TEA AP Macroeconomics.
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Treasury Direct: Money Math: Lessons for Life: Wallpaper Woes [Pdf]
Students use a real-world example to work on measurement skills and learn economic concepts such as budget constrains, trade-offs and expenses. [PDF]
Texas Education Agency
Texas Gateway: Chapter 2: Choice in a World of Scarcity: Key Terms
This is a list of key terms and definitions covered in Chapter 2: Choice in a World of Scarcity from the TEA AP Macroeconomics online text.
Khan Academy
Khan Academy: Decisions Within a Budget Constraint
Another approach to maximizing utility uses indifference curves (sometimes called utility curves) and budget constraints to identify the utility optimizing combination of consumption. Read about this method in this article.