Economics Economics is the study of how society manages its scarce resources
Economics Economics is the study of how society manages its scarce resources
Economists study. How people make decisions. How people interact with each other. The forces and trends that affect the economy as a whole
Economists study. . . How people make decisions. How people interact with each other. The forces and trends that affect the economy as a whole
Ten Principles of Economics -一一- 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
Ten Principles of Economics 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. How People Make Decisions
Ten Principles of Economics How People Interact Trade can make everyone better off. Markets are usually a good way to organize economic activity. Governments can sometimes improve economic outcomes
Ten Principles of Economics Trade can make everyone better off. Markets are usually a good way to organize economic activity. Governments can sometimes improve economic outcomes. How People Interact
Ten Principles of Economics - How the Economy as a Whole Works The standard of living depends on a country's production. Prices rise when the government prints too much money. Society faces a short-run tradeoff between inflation and unemployment
Ten Principles of Economics The standard of living depends on a country’s production. Prices rise when the government prints too much money. Society faces a short-run tradeoff between inflation and unemployment. How the Economy as a Whole Works