FULL NOTES MODULE 1 PRINCIPLES OF ECONOMICS
How People Make Decisions
1.People Face Trade-Offs
2.The Cost of Something Is What You Give
3.Rational People Think at the Margin
4.People Respond to Incentives
How People Interact
5.Trade Can Make Everyone Better Off
6.Markets Are Usually a Good Way to Organize Economic Activity
7.Governments Can Sometimes Improve Market Outcomes
How the Economy as a Whole Works
8.A Country’s Standard of Living Depends on its Ability to Produce Goods and Services
9.Prices Rise When the Government Prints Too Much Money
10 Society Faces a Short-Run Trade-Off between Inflation and Unemployment
23 сен 2024
