ECON 2030 Chapter : Econ 2011
Document Summary
Todays"s menu: monday 22 august 2011: busness, practice problems (answer on moodle, chapter 1: 6-12, 16-18, 21, labs do meet this week: wed. & fri. Consequences: microeconomics, macroeconomics, markets economics- the study of economies (is the study of how societies provision themselves with the material means of existence. ) (08/24/11) Either/or choices a. bibi and the concert ticket, parts 1 and 2 i. Sunk cost: how much/many choices a. stasia and the smorgasbord i. Sunk cost: the answer a. delta and the mayor i. Normative statements not testable, beyond value (beyond bad or good) 08/31/10 there are going to be winners from trade and losers from trade. Demands (side of a market transaction)-the ability and willingness to purchase (buy) a good or service at various prices. Economics- is the study of how human beings coordinate their wants and desires, giving the decision making mechanics, social customs, and political realities of the social.
