Ten Principles of Economics

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

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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
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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...
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