EC120 Lecture Notes - Lecture 1: Human Capital, Zoom Lens, Financial Capital

Scarcity our inability to get everything we want. I(cid:374)(cid:272)e (cid:449)e (cid:272)a(cid:374)"t get e(cid:448)e(cid:396)(cid:455)thi(cid:374)g 

EC120 Lecture Notes - Lecture 1: Mixed Economy, Division Of Labour, Barter

*most of the challenges faced in canada are economic. Economics: is the study of the use of scarce resources to satisfy unlimited human desires. Societ

EC120 Lecture 2: Lecture 2: Economic Theories Data, and Graphs

Depend on value judgements and cannot be evaluated by a recourse to facts. A normative statement is about what ought to be. A positive statement is abo

EC120 Lecture Notes - Lecture 2: Social Cost, Allocative Efficiency, Technological Change

Economic growth: economic growth, which is the expansion of production possibilities, results from capital accumulation and technological change, the o

EC120 Lecture Notes - Lecture 3: Opportunity Cost, Demand Curve, Inferior Good

EC120 Lecture Notes - Lecture 4: Inferior Good, Normal Good

If demand is elastic, a cut in price leads to an increase in total revenue. If demand is unit elastic, a cut in price leaves total revenue unchanged. T

EC120 Lecture Notes - Lecture 5: Marginal Utility, Demand Curve, Marginal Cost

**pro tip: masakure takes some of his questions straight off of my econ lab and just inserts different numbers** Resource allocation methods: because r

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This course analyzes the decision making of individual households and firms in a market economy, with an emphasis on the use of the price mechanism to allocate resources. The course will include applications to relevant economic policy.

Introduction to Microeconomics

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