The Nature and Method of Economics (ECON101)
Notes outlining the fundamental key concepts of the micro course including introducing the concept of scarcity, resources, and basic definitions. Outlines the difference between Macro and Micro economics. Explains factors of production and highlights the ultimate objective of economics. More topics include: - Positive vs Normative Statements - Marginal Analysis - Marginal Benefit and Marginal Cost Graph and what it means - The Economizing Problem - The Production Possibilities Curve - Explicit vs Implicit Costs ***Images depicting graphs are provided to help better understand what is explained in writing ***
Geschreven voor
- Instelling
- University Of Delaware
- Vak
- Microeconomics (ECON101)
Documentinformatie
- Geüpload op
- 28 september 2021
- Aantal pagina's
- 7
- Geschreven in
- 2021/2022
- Type
- College aantekeningen
- Docent(en)
- Charles link
- Bevat
- 9/2/21
Onderwerpen
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microeconomics
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micro101
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ppc
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marginal analysis
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marginal benefit
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marginal cost
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micro vs macro
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scarcity
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nature and method of economics
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production possibilities curve