Economics - Chapter 5 Outline
Friday, November 18, 2016
1) Why Do Business Firms Need Money?
a) Background: Money - "lifeblood of business"
Flow of funds enables businesses to meet their daily obligations and grow in the
Economics U1C1 Outline
Economics: The Study of Scarcity and Choice
A. First point: Cant afford everything at the same time. Satisfy as many wants with
resources available. Need to choose among what we have.
B. Goods & Services: Things
Economics U1C2 Outline
Principles of the U.S. Economic System
A. Capitalism: the means of production are privately owned, and the WHAT,HOW
and WHO Qs answered by the market rather than by tradition or an economic
plan; economic system of U