Ten Principles Of Economics

In this chapter you will… ,[object Object],[object Object],[object Object],[object Object]

The Word Economy Comes From… ,[object Object]

TEN PRINCIPLES OF ECONOMICS ,[object Object],[object Object],[object Object],[object Object],[object Object]

TEN PRINCIPLES OF ECONOMICS ,[object Object],[object Object],[object Object]

TEN PRINCIPLES OF ECONOMICS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

HOW PEOPLE MAKE DECISIONS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Principle 1: People Face Tradeoffs ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Principle 1: People Face Tradeoffs ,[object Object],[object Object],[object Object],[object Object]

Principle 2: The Cost of Something is what You Give Up ,[object Object],[object Object],[object Object]

Principle 3: Rational People Think at the Margin ,[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],Principle 4: People Respond to Incentive

[object Object],[object Object],HOW PEOPLE INTERACT

[object Object],[object Object],[object Object],Principle 5: Trade can Make Everyone Better Off

[object Object],[object Object],[object Object],Principle 6: Markets are Usually a Good Way to Organize Economic Activity

[object Object],[object Object],[object Object],[object Object],Principle 7: Governments can Sometimes Improve Market Outcomes

[object Object],HOW THE ECONOMY AS A WHOLE WORKS

[object Object],[object Object],[object Object],Principle 8: A Country’s Standard of Living Depends on its Ability to Produce Goods and Services Productivity => Standard of Living

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Principle 9: Prices Rise when the Government Prints Too Much Money

[object Object],Principle 10: Society Faces a Short-Run Tradeoff Between Inflation and Unemployment.

Summary ,[object Object],[object Object],[object Object],[object Object]

Summary ,[object Object],[object Object]

Ten Principles Of Economics

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Ten Principles Of Economics