ECN 340 Lecture Notes - Lecture 1: Demand Curve, Bes
20 Sep 2015
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Document Summary
The meaning of economics l a mental skill that corporate a special view of human behavior characteristic of economists, l a thought process or the manner in which economists approach problems. Just two lines on a graph and do not capture the full complexities of real-world markets. Thinking about rationality l economists begins their analysis of human behavior with the assertion that human beings act and do so with a purpose l ludwig von mises - acting man is eager to substitute a more satisfactory. His mind imagines conditions which suit him better, and his actions aim at bringing about this desired state. the incentive that impels a man to act is always some uneasiness. A man perfectly content with the state of affairs would have no incentive to change things. He would have neither wishes nor desires; he would be perfectly happy.
