Economics (eac594)

Seneca College of Applied Arts and Technology ( )

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Introduction to Economic Growth and Instability
  • Introduction to Economic Growth and Instability

  • Summary • 3 pages • 2022
  • An introductory look at trends of real GDP growth and the macroeconomic problems of the business cycle, unemployment and inflation.
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Measuring Domestic Output, National Income, and the Price Level
  • Measuring Domestic Output, National Income, and the Price Level

  • Summary • 3 pages • 2022
  • Assessing the Economy's Performance National income accounting measures the economy's performance by measuring the flows of income andexpenditures over a period of time. National income accounts serve a similar purpose for the economy, as do income statements for business firms. Consistent definition of terms and measurement techniques allows us to use the national accounts in comparingconditions over time and across countries. The national income accounts provide a basis for of appropriat...
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Chapter 02 - The Economizing Problem
  • Chapter 02 - The Economizing Problem

  • Summary • 3 pages • 2022
  • The foundation of economics is the economizing problem: society's material wants are unlimited whileresources are limited or scarce.
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The Nature and Method of Economics
  • The Nature and Method of Economics

  • Summary • 3 pages • 2022
  • Definition of Economics The social science concerned with the efficient use of limited or scarce resources to achieve maximum satisfactionof human materials wants. Human wants are unlimited, but the means to satisfy the wants are limited.
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Chapter 05 The U.S. Economy: Private and Public Sectors
  • Chapter 05 The U.S. Economy: Private and Public Sectors

  • Summary • 4 pages • 2022
  • Goals of Chapter To acquire basic factual information about the household and business components of the private sector economy. To acquire basic factual information about the public (or government) sector in the U.S. economy. To understand the role of the public sector in the U.S. economy.
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