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Lecture

Economics 101- Ten Principles of Economics (Lecture 1 & 2).docx

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Department
Economics
Course
ECON 101
Professor
Ratna Shrestha
Semester
Summer

Description
Chapter 15 Specialization and Tradeoff between countries imports exports 6 Market Circular flow of income 7 Causes of Market FailureExternalityMarket PowerAbility to influence market prices EgMonopoly CartelAsymmetric Information When on party has more information than the otherHow can Gvt InterveneGvt Can tax or subsidize externality Egtax pollutionGvt Can control prices and prevent firms from collusion illegal 8910 How the Economy as a whole worksSOL depends on i
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