Economics Chapter 1 I. An Economic way of Thinking What’s Economics? - The study of choices people make to satisfy their needs and wants. - It is the study of how society choose to use it’s scarce resources to satisfy it’s unlimited needs and wants. Economists: - Someone who studies the choices that people make. - Someone who studies the economic theory and applies it to the real world. Economic Actions: 1. Micro-economic: Study of one single factor of economy. (Mobile co.) 2. Macro
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The following chapter summaries are mostly based on the McConnell & Brue text “Economics- 16th Ed.” Details available at http://highered.mcgraw-hill.com/sites/0072819359/information_center_view0/ note .. arrow means “leads to‚” “results in‚” “causes” Chapter 1 – The Nature and Method of Economics Economics is the study of scarcity and choice Key concept- opportunity cost: for a person to get more of one thing... he/she must forego getting something else e.g. to get food must
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And I don’t give a fuck‚ can I live? Cause we be doin’ too much shit‚ Just a couple of kids from eastside of the 2-1-6 Bummin’ a dollar and a dream real shit Every day I wake up‚ higher than the night before Blackin’ out every night on tour 5 a.m we jump into the pool in our drawers ’Til the cops come. Run‚ run‚ fuck the law. And I was born to be wild‚ Sex‚ rock and roll and weed piles Runnin’ from the oldest seniles. Follow in my steps‚ then you walkin’ a green mile Trees in my pockets
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beast was mentioned again. We see this later at the meeting in chapter 5‚ when one of the littluns mentions the rest of the littluns are still scared of the beast. The biguns again try to dismiss it as the younger children having an overactive imagination‚ but then when they fail to prove them wrong‚ like failing to create a proper vaccine or treatment for a disease‚ they to become infected with fear. Now‚ with the fear
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Chapter 2 Economics Problem Production Possibility Frontier (PPF) -boundary between those combination you chose to produce - there is a limited about of production capabilities -curve/ boundary for production possibility - the points inside curve are attainable -all points outside ppf are unattainable Production Efficiency -using resources to maximum capacity -efficiency means that if you increase production of pizza means you must give up cola (only way—no extra resources to use)
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The ultimate engine of economic growth is new technology. According to economists‚ the growth of output per capita is a fairly recent phenomenon. This can be attributed to all the new technology people have discovered in the past few centuries‚ causing output growth to surge and accelerate faster than ever before in history. The result of all these ingenious‚ innovative inventions has been a total revolution in the way people live their lives. After examining the multitude of invention descriptions
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Throughout all the chapters within five through ten one stood out the most to me and this chapter was chapter eight. Within this chapter is a lot of information but I felt like chapter eight had the most meaning because there is a document set within that has so many different voices on different aspects of life and culture within the new republic. From women rights to education and even the average farmers thoughts on this new republic. Within Chapter eight P3-5 was a woman’s perspective on backcountry
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Chapter 5 : Philippine Values VALUES - Comes from the Latin word “valere”‚ which means to be strong or to be worth. -Those standards by which a group of society judges the desirability and importance of people‚ ideas‚ actions or objects. -shared conceptions of or beliefs in what are considered desirable or undesirable. - Something deserving of one’s best effort‚ something worth living for‚ and if need be worth dying for. DEFINITION OF VALUES - Enduring conception of the preferable which influences
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Petrie’s Electronic Case‚ Chapter 5 Chapter 5 1. What do you think are the sources of the information Jim and his team collected? They conducted interviews with key stakeholders inside the company and also worked with the marketing group to put together some focus groups made up of loyal customers. The intent was to get some ideas about what would be valued in a customer loyalty program. Jim also spent time studying programs from other retail chains and those in other industries as well
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CHAPTER I INTRODUCTION Technology plays vital role in innovation. Over the years we have seen technology to evolve like a child burgeons into adulthood. Without technology‚ life would be more difficult than it already is. We are now living in a world which is technologically civilized‚ where almost all human activities involve the use of technology and every person wants to be recognized with a device or gadget which is technically advanced. Nowadays‚ computer serves an important part
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