Views on the economist

Views on the economist - FIGURE 1: The Circular-Flow...

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THINKING LIKE AN ECONOMIST 1 FIGURE 1: The Circular-Flow Diagram Markets for Factors of Production Households Firms Income Wages, rent, profit Factors of production Labor, land, capital Spending G & S bought G & S sold Revenue Markets for Goods & Services
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THINKING LIKE AN ECONOMIST 2 FIGURE 1 +: Ningning and Damn Good Noodle Markets for Factors of Production Ningning Damn Good Noodle Income Wages, capital purchase Part-time job, microwave Spending Noodle Noodle Revenue Markets for Goods & Services Labor, microwave
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What do you think? 1. Ningning have a part-time job in the Damn Good Noodle. Today, he got 2- week payroll from the store. 2. Ningning have a excellent microwave for sale. The noodle store bought the microwave from Ningning for 50 dollars. 3. Ningning felt hungry last night, so he ordered a delivery service from the Damn Good Noodle. 3
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Figure The production possibilities frontier 2 4 Quantity of Computers Produced Quantity of Cars Produced 0 300 600 700 1,000 3,000 A B C D E F 1,000 2,200 2,000 Production Possibilities Frontier
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Figure A shift in the production possibilities frontier 3 5 Quantity of Computers Produced Quantity of Cars Produced 0 600 650 1,000 3,000 A 2,200 2,300 4,000 G
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This note was uploaded on 10/14/2011 for the course ECON 2023 taught by Professor Unknown during the Fall '05 term at Arkansas.

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Views on the economist - FIGURE 1: The Circular-Flow...

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