Chapter 10: Organizing production
1. Firm definition 2. Firm's constraints 3. Why do firms coordinate?
A firm is an institution that hires factors of production and organizes them to produce and sell goods and services. The Firm's Goal A
Public goods and common resources Ch.17
1. Classifying goods and resources 2. Public goods 3. Common Resources
Classifying goods and resources
Excludable: A good, service, or resource is excludable if it is possible to prevent a person from enjoying its