ECON 103 Lecture Notes - Lecture 3: Capital Good, Comparative Advantage, Ad Hominem
14 Sep 2017
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Audio recording started: 8:37 pm tuesday, september 12, 2017. Audio recording started: 7:22 pm tuesday, september 12, 2017. When someone concludes that because event b happened after event a, assuming that event a caused event b. When someone judges the merit/validity of a statement exclusively by judging the identity of the person making the statement. When someone concludes that what is true for the individual is true for the group. When someone assumes that just because something exists/occurs, it should exist/occur. Occurs in nature, doesn"t necessarily mean that we should regard it as morally acceptable. It is easy to mislead people using statistics. Be wary of jumping to conclusions based on a specific statistic. Average height of children after having another child. Specialization increases efficiency, and by effect, the wealth of nations. Three main reasons why specialization causes an increase in. When people specialize, they don"t waste as much time. When they specialize instead of switching shifts, they save time.
