Class Notes (836,147)
United States (324,358)
Economics (213)
ECON-UA 2 (82)
Lecture

Day 1 (1/28/2014)
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Department
Economics
Course
ECON-UA 2
Professor
Marc Lieberman
Semester
Spring

Description
Day 1 1282014Economics social scienceStudy of choice under conditions of scarcitySociety Resources4 different categories1LandNatural Resources2Labor3Capital long lasting tool that labor uses to make stuffhas to be producedaPhysical Ex shovel tractor computer buildingbHuman Ex skills training knowledge4Entrepreneurship Resource allocations1What is being produced2How Produced3Who gets it3 main methods of resource allocation1Command2Tradition3Marketdo what you want with what youve gotMarket System R
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