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Principles of Macroeconomics
Chapter 1 The Scope and Method of Economics
1.1 Why Study Economics?
1) The reasons to study economics include which of the following?
A) to be an informed citizen
B) to understand society
What are the goods and services?
Goods- are the items that are tangible meaning
Example: books, pens salt, shoes, hats, folders and etc.
Services- are activities provided by the other people
Ex: doctors, lawn care workers, dentists, barbers,
The economics of
Grading will probably be ready for sections next
- Bring your Deans excuse to the exam.
- We will schedule the exam for this week in the
evening. Meet after class today to schedule it.
The issue is not whether the government should
intervene, but what form government
intervention should take.
While economic incentives have not had
dramatic success, this chapter will expl