Macro 1.20.11

Macro 1.20.11 - loser-Many interactions are zero-sum...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Economics Micro 1/20/11 Voluntary Trades: - Channel goods to those who value them most - Creates value o Zero sum games is where there is a winner and a loser. Somebody gains and somebody loses - Trades doesn’t have to be like an athletic analogy where there is a winner and a
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: loser-Many interactions are zero-sum games-Trade is a positive sum game.-Help both sides of transaction-Voluntary trade helps both sides...
View Full Document

This note was uploaded on 02/24/2011 for the course ECON 202 taught by Professor Coppock during the Spring '08 term at UVA.

Ask a homework question - tutors are online