Ten Principles of Economics

Ten Principles of Economics - Market Outcomes#8 A...

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

View Full Document Right Arrow Icon
TEN PRINCIPLES OF ECONOMICS #1: People Face Trade-offs #2: The Cost of Something Is What You Give Up to Get It #3: Rational People Think at the Margin #4: People Respond to Incentives #5: Trade Can Make Everyone Better Off #6: Markets Are Usually a Good Way to Organize Economic Activity #7: Governments Can Sometimes Improve
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Market Outcomes #8: A Country’s Standard of Living Depends on Its Ability to Produce Goods and Services #9: Prices Rise When the Government Prints Too Much Money #10: Society Faces a Short-run Trade-off between Inflation and Unemployment...
View Full Document

This note was uploaded on 04/07/2008 for the course ECON 112 taught by Professor Howard during the Spring '08 term at Conn College.

Ask a homework question - tutors are online