Jul 29th, 2015
Studypool Tutor
Price: $20 USD

Tutor description


Word Count: 1144
Showing Page: 1/15
1Ten Principles of EconomicsTapas PaulDepartment of EconomicsCopyright 2004 South-Western/Thomson LearningBeginning of EconomicsKautilyaAdam SmithKeynesCopyright 2004 South-Western/Thomson Learning1Economy. . .. . . The word economy comes from a Greekword for one who manages a household.Copyright 2004 South-Western/Thomson LearningTEN PRINCIPLES OFECONOMICS A household and an economyface many decisions: Who will work? What goods and how many of them should beproduced? What resources should be used in production? At what price should the goods be sold?Copyright 2004 South-Western/Thomson Learning2TEN PRINCIPLES OFECONOMICSSociety and Scarce Resources: The management of societys resources isimportant because resources are scarce. Scarcity. . . means that society has limited resourcesand therefore cannot produce all the goods andservices people wish to have.Copyright 2004 South-Western/Thomson LearningTEN PRINCIPLES OFECONOMICSEconomics is the study of how society managesits scarce resources.Copyright 2004 South-Western/Thomson Learning3TEN PRINCIPLES OFECONOMICS How people make decisions.People face tradeoffs.The cost of something is what you give up to get it.Rational people think at the margin.People respond to incentives.Copyright 2004 South-Western/Thomson LearningTEN PRINCIPLES OFECONOMICS How people interact with each other.

Review from student

Studypool Student
" all I can say is wow very fast work, great work thanks "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1821 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors