Think about the American Heritage test! “Whether you believe you can do a thing or not, you are right.” ─ Henry Ford Think about the American Heritage test!

Opportunity Cost The value of the best alternative not chosen

Comparative Advantage Everyone should specialize where they have the lowest opportunity cost.

Keys and Cell phones

How do we benefit from specialization? Economic Growth How do we benefit from specialization? Through specialization and exchange we created new goods that otherwise would not have existed.