ECON 200 Study Guide - Fall 2018, Comprehensive Term Test Notes - Page 3, Opportunity Cost, Graph Of A Function
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ECON 200 Full Course Notes
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Office hours: m: 12:30-1:30; w: 12-1 and f: 10- 11, and by appointment. Quizzes harder than hw, test application and analysis. **quiz/exam grade depends on the quality of answer, not just the answer itself with the use of the appropriate conceptual framework and the precision of your logical explanation and conclusion. Market with no governing body to firmly set things like prices, yet buyers are able to find what they need whenever. Seller/producer have items with no request from buyer, but always have the right amount of goods for buyers in this scarce economy . Interactions in an economy = interactions in a market. Economics is a science, a type of social science. Positive sum game (all parties involved may gain) It employs a set of thinking tools that help explain out economic and social phenomena and also predict the effects of changes in (relevant) constraints on the social and economic outcomes.
