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Class Notes for Economics at Ryerson University

ECN 104 Lecture Notes - Lecture 10: Monopoly Price, Public Utility, Natural Monopoly
24HR
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ECN 104 Lecture 10 Monopoly Characteristics of Monopoly: Single seller A sole producer No close substitutes Unique product Price maker Control over price Blocked entry Strong barriers to entry block potential competition N...

Economics
ECN 104
T B A
ECN 104 Lecture Notes - Lecture 9: Marginal Revenue, Profit Maximization, Longrun
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ECN 104 Lecture 9 Perfect Competition In The Short And Long Run Characteristics of Perfect Competition and the Firms Demand Curve: Very large number of sellers Standardized product Price takers Easy entry and exit Perfectl...

Economics
ECN 104
T B A
ECN 104 Lecture Notes - Lecture 8: Average Variable Cost, Allocative Efficiency, Diminishing Returns
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ECN 104 Lecture 8 The Firm and the Costs Economic Costs: Payments a firm must make, or incomes it must provide, to resource suppliers to attract those resources away from their best alternative production opportunities Pay...

Economics
ECN 104
T B A
ECN 104 Lecture Notes - Lecture 7: Mental Accounting, Budget Constraint, Demand Curve
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ECN 104 Lecture 7 Consumer Choice and Utility Maximization Law of Diminishing Marginal Utility: Utility is a subjective notion in economics referring to the amount of satisfaction a person gets from consumption of a certai...

Economics
ECN 104
T B A
ECN 104 Lecture Notes - Lecture 6: Allocative Efficiency, Marginal Cost, Economic Equilibrium
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ECN 104 Lecture 6 Market Failures: Public Goods and Externalities Market Failures In Competitive Markets: A demandside market failure Demand curves do not reflect consumers full willingness to pay for a good or service Occ...

Economics
ECN 104
T B A
ECN 104 Lecture Notes - Lecture 5: Independent Goods, Complementary Good
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ECN 104 Lecture 5 Elasticity Part 2 Determinants of Ed: Substitutability Proportion of income Luxuries versus necessities Time Applications of Ed: Large crop yields Sales taxes Price Elasticity of Supply: The main determin...

Economics
ECN 104
T B A
ECN 104 Lecture Notes - Lecture 4: Demand Curve, Price Elasticity Of Demand
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ECN 104 Lecture 4 Elasticity Part 1 Price Elasticity of Demand: The law of demand says An increase in price causes a decrease in quantity demand and vice versa Elasticity gives us a measure of responsiveness When QD resp...

Economics
ECN 104
T B A
ECN 104 Lecture Notes - Lecture 3: Market Price, Market Power, Complementary Good
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ECN 104 Lecture 3 Demand, Supply, and Market EquilibriumMarketsAn institution or mechanism that brings together buyers and sellers of particular goods and servicesCompetitive marketsA large number of independent buyers a...

Economics
ECN 104
T B A
ECN104 Lecture 2: The Market System and Circular Flow
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ECN 104 Lecture 2 The Market System and Circular FlowEconomic System:Economic system differ in two important waysWho owns the factors of productionThe method used to coordinate economic activityA particular set of instit...

Economics
ECN 104
T B A
ECN 104 Lecture Notes - Lecture 1: Budget Constraint, Full Employment, Marginal Utility
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ECN 104 Lecture 1 Limits, Alternatives and ChoiceTen Key Concepts:The individualFacing tradeoffsOpportunity Costs Choosing a Little More or Less The Influence of Incentives Interactions Among IndividualsSpecialization an...

Economics
ECN 104
T B A
ECN 204 Lecture 2:

Concept of GDP Expenditure v Income Overall Performance Long run Growth Avoid multiple counting Market of value final goods Ignore intermediate goods Count value added Aggreate Market total market value Maximize combinatio...

Economics
ECN 204
Hyunju Lee
ECN 204 Lecture 1:

Canada Real GDP 1 is Econ Text increasing year Canada real GDP cycle required cmoredipsand bullish Hill Short stories McGraw term cycle Boom and Recession Assignments on P2 L needed Macrotext C McGraw Hill 3 attempts a Hig...

Economics
ECN 204
Hyunju Lee
ECN 722 Lecture 1: Week One
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ECN 722 - Economics of Sport Week One - Introduction What is Economics? - Studies human behaviour, specifically human choice - Looks at how individuals interact with one another - Looks at how individuals, firms, and gover...

Economics
ECN 722
Colin Mang
ECN 104 Lecture Notes - Lecture 1: Marginalism, Human Capital, Scientific Method

Economics week 1 (Chapter summary 1.1-1.7) The individual 1. Facing trade-offs 2. Opportunity costs 3. Choosing a little more or less 4. The influence of incentives Interaction among individuals 5. Specialization and trade...

Economics
ECN 104
nken
ECN 104 Lecture Notes - Lecture 1: Taco, Seat Belt, Opportunity Cost

ECN 104 Introductory Economics Chapter 1: Ten Principle of Economics: Economics is about... Scarcit he limited nature of societys resources atural resource, land and workers time are all limited in its availability. Econom...

Economics
ECN 104
Tsogbadral Galaabaatar
Permachart - Marketing Reference Guide: Net Asset Value, Mutual Fund, U.S. Securities And Exchange Commission

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Mutual Funds WHAT IS A MUTUAL FUND? PURCHASING & REDEE...

Biology
BIOL2721
All Professors
Macroeconomics - Reference Guides

Take a look at the big picture. This chart covers national income accounting, inflation, consumption, economic growth, money supply, labor markets, monetary policy, international trade, supply side economics, and fiscal po...

Business and Political Economy Program
BPEP-UB 2
All Professors
Permachart - Marketing Reference Guide: Marginal Revenue, Profit Maximization, Marginal Cost

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Microeconomics Microeconomics TYPES OF MARKETS ...

E-Business Marketing
ECN 102
All Professors
Permachart - Marketing Reference Guide: National Environmental Policy Act, Municipal Solid Waste, Criteria Air Contaminants

l e a r n • r e f e r e n c e • r e v i e w permacharts TM EEnvironmental Law ENVIRONMENTAL REGULATION NATIONAL ENVIRONMENTAL POL...

LAW
LAW 356
All Professors

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