Ag Econ Chapter 1

Ag Econ Chapter 1 - Why do economists disagree(they have...

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Ag Econ Chapter 1 Carl Marx – figure out a way to equitably to distribute wealth to the laborers, not communist as we define it Price – the way we determine who receives the scarce resources Wealth of nations – Adam Smith, founder/guru of specialization of labor. Henry Ford in our countries. Talking about the clothing industry in wealth of nation. Prior to industrial revolution, each family took care of the entirety of the needs of family. Specialization was discovered, which lead to bartering and monetary systems. Because of two income families have different dynamics, there is more going towards connivance meals Marginal Analysis – this is where economists look incremental cost macro vs. micro macro is the country’s view, large view micro is the individual, small piece of macro, the interactions of the small pieces
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Unformatted text preview: Why do economists disagree? (they have nothing better to do) See notes positive economics – what is in the economy normative economics – what it ought to be in the economy (debatable) Economic Goals high employment – those who want to work are working 4.6% nationally question values and numbers as you are being presented with them. How did they get to that number? Why did they get that number? efficiency uses agriculture as it is one of the last highly competitive industries. we have to have as much efficiency as possible equity 80% of the recourses are owned by 20% of the people – what is the issue? How do you deal with this? Growth Opens up opportunities for after college, openings for employment...
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This note was uploaded on 04/07/2008 for the course AREC 202 taught by Professor Dalstead during the Spring '08 term at Colorado State.

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