Economics: Principles & Policy samenvattingen

Full lesson including notes, simple definitions, examples, and graphs. Ch 8: Topics: Business Cycle Stages of Business Cycle Labor Force Unemployment Types of Unemployment Costs of Unemployment Inflation Costs of Inflation Types of Inflation

Full lesson including notes, simple definitions, examples, and graphs. Ch 4: Topics: Market Coordination 3 Fundamental Questions of Economies: What? How? For Whom? Market Economy The Invisible Hand of Competition/Market The Private Sector Circular Flow: Income & Expenditure Aggregate Demand

Full lesson including notes, simple definitions, examples, and graphs. Ch 1 • Definition of Economics • Positive Economics • Normative Economics • Economic Bad/Economic Good • Resources • Opportunity Cost • Free Good • Factors of Production • Renewable/Nonrenewable Resources • Micro/Macroeconomics • Graphical Analysis in Economics