Business 1000 Chapter 2

Business 1000 Chapter 2 - 2-1Professor Hirokazu...

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Unformatted text preview: 2-1Professor Hirokazu TakadaEconomics: Create WealthEconomics: Create WealthUse Scarce Resources Use Scarce Resources to Produce Goods & to Produce Goods & Services To Distribute Services To Distribute Among Competing Among Competing Groups/IndividualsGroups/IndividualsMicro v. MacroMicro v. MacroResource DevelopmentResource Development2-2Professor Hirokazu TakadaFour Whats of an Economic System$What is produced?$What amount is produced?$What is the method of output distribution?$What is the rate of economic growth?Adapted from:Adapted from:Edwin Mansfield Economics(New York: W.W. Norton, 1976), p.82-3Professor Hirokazu TakadaEconomic Theories and Economic Theories and Real Policy ImplicationsReal Policy ImplicationsThomas Malthus (Early 1800s)Dismal ScienceToo many people Adam Smith (1776)Freedom is vitalInvisible HandExcessive deregulation (2001-2008)SECs lack of supervisionFinancial and housing market meltdownGreed and overcompensation2-4...
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This note was uploaded on 12/13/2010 for the course BUS 1000 taught by Professor Schnaars during the Fall '07 term at CUNY Baruch.

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Business 1000 Chapter 2 - 2-1Professor Hirokazu...

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