The Economic Problem
by Sergio Alejandro Santiago Urrego
1. INCREASE IN FOOD PRICES AND ALL OF PRODUCTS.
2. Production should be assigned to the variables that are directly involved in future production and development so that its opportunity cost is high at present
2.1. The obtaining of the profits that the trade offers happens when the production specializes in the product or service that each one has with comparative advantages and benefits in the exchange
3. Economic Institutions
3.1. economic coordination happens when companies, markets and money coordinate decisions to adjust prices according to their supply and demand
3.2. The economic coordination is given with the planning, specialization within a free market that allows competitiveness.
4. Economic growth
4.1. economic growth occurs when more is invested in technological research than in the production of goods and services
4.2. Since there is more production of goods and services and less technological development, the possibilities of production in the future would be the same as the present because there is no specialization.
5. The Production
5.1. Opportunity cost
5.2. It is the proportion of sacrifice of one good for the production of another.
5.2.1. When it occurs over the production possibilities frontier, the cost is lower and translates into ..