final review

final review - Econ 1 final exam review topics by SPROUL, M...

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Unformatted text preview: Econ 1 final exam review topics by SPROUL, M ICHAEL - Thursday, 3 June 2010, 05:35 PM--------------------------------------------------------------------- Quiz 1 review topics 1. The invisible hand 2. Specialization and comparative advantage‚ÄĒGeorgia/Washington example 3. First laws of demand and supply 4. price ceilings and how they cause shortages 5. price floors and how they cause surpluses 6. gas line example: shortages and black markets 7. SF quake/returning soldiers example: Shifts in demand and supply, and rent Control 8. LA quake example--price ceilings on glass and masonry 9. Bread/wheat example: How we can have a shortage of wheat but no shortage of bread 10. Algebra of supply and demand 11. Definitions of consumer surplus and producer surplus 12. Sugar import example Palm Springs water example 13. Cost/benefit analysis of price ceilings 14. Trailer park example and the Law of Unintended Consequences 15. Cost/benefit analysis of the minimum wage, milk price supports Econ 1 quiz 2 review topics 1. cost/benefit analysis of price support on Indian cloth 2. Taxes: How the tax burden is divided between buyer and seller 3. Proposition 13 example of vertical supply curve...
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This note was uploaded on 09/20/2011 for the course ECON 1 taught by Professor Nagata during the Spring '08 term at UCLA.

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final review - Econ 1 final exam review topics by SPROUL, M...

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