Class Notes (837,186)
United States (324,898)
Economics (1,245)
ECON 20A (171)
Lecture

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Department
Economics
Course
ECON 20A
Professor
Amihai Glazer
Semester
Fall

Description
The economist as the scientist1economic modelsAthe circular ow diagramavisual representation of economy1show how markets ow through rms and households2market for goods and servicesArm sellsahousehold buysbMarkets for the factors of productionBhousehold sells arm buysbthe production possibility frontierbdemonstrates scarcity efecieny trade off opportunity cost
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