UGBA 10 Lecture 1: UGBA 10 – Lecture 1 – Financial Literacy

• School: Berkeley
• Department: Business Administration, Undergraduate
• Course: UGBA 10
• Professor: John Briginshaw

Document Summary

Ugba 10 lecture 1 financial literacy. Financial literacy the ability to read, write, and understand finances and make informed financial decisions. Allows one to take their finances into their own hands as well as engage in meaningful discussions regarding finances with peers and family. Therefore, it is important to know the: gdp growth the percentage increase in our gross domestic product, unemployment rates the percentage of total workforce of who are attempting to find. Types of cost: variable costs costs that increase as production increases, ex:- ingredients, supplies, commissions, fixed costs costs that remain the same despite production, ex:- rent, fixed salaries. Suppose n was the amount of a product sold, p was the price consumers would pay for one unit, v was the variable cost of producing one unit, and f was the fixed cost. Most economies in the world are some form of mixed market, it"s very rare that an economy is perfectly market or planned.