economics review

economics review - Economics Review 1. Film for Camera:...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Economics Review 1. Film for Camera: Complementary goods: two goods that are bought and used togeth- er. 2. Increase in demand for a good can be caused by: a. increase in individuals taste for the good b. increase in the price of a substitute good c. an increase in the number of buyers in the market 3. Inelastic demand: subway lowers its fares and decrease in revenue. 4. -Ceteris Paribus: with all things the same- Post Hoc Fallacy: since this event came before that one, it must have caused it. ie. if you go to the beach and then it rains, dont mean you caused the rain.-fallacy of composition: just because something is good for a unit cant assume it is good for the aggregate. ie. If you leave the park a few mins early, you avoid traffic, if everyone leaves a few mins early therell be traffic....
View Full Document

This note was uploaded on 11/10/2009 for the course THEO 2851 taught by Professor Schapiro during the Spring '09 term at Fordham.

Page1 / 2

economics review - Economics Review 1. Film for Camera:...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online