Economics is the dismal science
Thomas Malthus, economist (1798)
Prediction: due to limited resources and
population growth, humankind will experience
Seven billion peopl
Econ 210. Exam II. Study Guide
All formulas needed for the exam will be provided. Attoh
1. What is a price ceiling? Effects on market outcome. Graphical analysis. Give an example
2. What is a price floor? Effects on market outcome. Graphical
Why do peopleand
nationschoose to be
How can trade make everyone
What is absolute advantage?
What is comparative
Production Possibilities for the U.S. & Japan
Food and C
Econ 210. Exam I. Study Guide
What is scarcity? Why is it the central economic problem?
What is opportunity cost?
What is the relationship between scarcity, choice, and opportunity cost?
Difference between microeconomics