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Capitalstockinterestanddividends 2115

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Unformatted text preview: rce resources to satisfy their wants Economics=scarcity Another name for productive resources is factors of production Land­rent of mortgage Labor­ wages, salary, tips, com. Capital Stock­ interest and dividends 21:15 5 Powers of Economic Thining 1. Resources cost more than you think Accounting costs­ $ cost Opportunity cost­ the next highest­valued alternative, same as implicit cost 2. All decisions are rational Rational­ ones behavior is consistent with what one wants 3. All decisions are made at the margin Margin­ the weighing of additional costs and additional benefits of a specific change in the current situation 4. The answer to most questions is found in this simple statement: IT DEPENDS!! 5. People...
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This note was uploaded on 10/30/2012 for the course BUS 420 taught by Professor Thisal during the Fall '11 term at Arizona.

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