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Economics: Unit One

Economics: Unit One

Economics: Unit One. The s ocial science for the socially awkward. Unit One: Basic Economic Concepts. Everybody faces tradeoffs. The cost of something is what you give up to get it (opportunity cost). People respond to incentives. Trade makes everyone better off.

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600 views • 49 slides
Economics: Unit One

Economics: Unit One

Economics: Unit One. The s ocial science for the socially awkward. Unit One: Basic Economic Concepts. Everybody faces tradeoffs. The cost of something is what you give up to get it (opportunity cost). People respond to incentives. Trade makes everyone better off.

★ ★ ★ ★ ★

640 views • 48 slides
Economics: Unit One

Economics: Unit One

Economics: Unit One. The s ocial science for the socially awkward. Unit One: Basic Economic Concepts. Everybody faces tradeoffs. The cost of something is what you give up to get it (opportunity cost ). People respond to incentives. Trade makes everyone better off.

★ ★ ★ ★ ★

512 views • 35 slides
Economics: Unit One

Economics: Unit One

Economics: Unit One. The s ocial science for the socially awkward. Unit One: Basic Economic Concepts. Everybody faces tradeoffs The cost of something is what you give up to get it (opportunity cost) People respond to incentives Trade makes everyone better off

★ ★ ★ ★ ★

392 views • 25 slides
Economy vs. Economics

Economy vs. Economics

Economy vs. Economics. Economy. from Greek oikonomia : oikos (= house) + nemein (= to manage) cf. with ecology ! Meanings: - the management of household or private affairs, especially expenses - efficient use of material and non-material resources

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312 views • 8 slides

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