ECON 301 Lecture Notes - Lecture 2: Khat, Hernia, Composite Good

• School: Concordia University
• Department: Economics
• Course: ECON 301
• Professor: Anca Alecsandru

Document Summary

Group of certain product transactions between interactions / that condoned producers , System of exchange involved : that benefits everyone consumed producers) when parties agree occur. *buyers , customers households clients demanded producers a suppliers , providers , sellers distortions. : government imposed ( taxes quotas , price floors , price ceilings ) natural disasters expectations market consumer theory. Q : what a of isthegoal consumer ? maximize utility , satisfy neodsandmant the maximigetpiuohamhfpoweb of disposable ( cha ) income paoducoo theory. Q : whatisthegoal ofa producer ? maximize profits minimize costa) b revenues costs. Mdc of a market labour market the market for consumption goods for the market capital goods class of goods market for commodities the basic. Q : what do we need to improve our wellbeing environment. : family , friends , society , education rights , political stability health status income political consumption goods and services stability economic access to irfnnduoufsmofdel consumption goods /