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CA (140,993)
UTSG (9,788)
ECO (741)
Gustavo Indart (15)

Study Guides for Gustavo Indart

Introduction to Economics

ECO100Y1 Study Guide - Foreign Exchange Market, The Foreign Exchange, Canadian Dollar

THE EXCHANGE RATE AND THE BALANCE OF PAYMENTS Balance of Payments The balance of payments shows the record of all transactions of residents of Canada with the rest of the world. There are 3 main accounts in the balance o...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Final Guide: Competitive Equilibrium, Aggregate Demand

FURLONG FINAL SHORT INTRO AND STATS: Topics to be Covered:  Demand and Supply  Elasticity  Consumer Behaviour  Production and Costs  Short-Run Competitive Equilibrium  Long-Run Competitive Equilibrium ...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Substitute Good, Indifference Curve, Inferior Good

THE DERIVATION OF DEMAND AND SUBSTITUTION AND INCOME EFFECTS Demand is usually downward sloping and Supply upward sloping Intersection of Demand and Supply curves is the equilibrium point Change in quantity demanded/qu...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Final Guide: Competitive Equilibrium, Aggregate Demand

INDART FINAL SHORT INTRO AND STATS: Topics to be Covered:  Demand and Supply  Elasticity  Consumer Behaviour  Production and Costs  Short-Run Competitive Equilibrium  Long-Run Competitive Equilibrium ...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Aggregate Demand, Diminishing Returns

AGGREGATE DEMAND AND SUPPLY The Price Level and Aggregate Expenditure An increase/decrease in the price level (P) shifts the AE curve downward/upward This shift of the AE curve is due to the effect of changes in P on: ...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Equilibrium Point, Demand Curve, Complementary Good

DEMAND AND SUPPLY Demand is usually downward sloping and Supply upward sloping Intersection of Demand and Supply curves is the equilibrium point Change in quantity demanded/quantity supplied are movements along the dema...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Economic Surplus, Demand Curve

ELASTICITY  Elasticity is the measure of responsiveness of one thing to another  Price Elasticity of Demand is the measure of responsiveness of price to a change in quantity. PED= %Change in Quantity ...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Gross Domestic Product, Net Domestic Product

NATIONAL ACCOUNTS Gross Domestic Product (GDP): total value of final goods and services produced in the economy during a given period. GDP is a flow of new products during a period of time There are three different appr...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Allocative Efficiency, Pareto Efficiency, Economic Surplus

ALLOCATIVE EFFICIENCY, EXTERNALITIES, AND GOVERNMENT INTERVENTION Productive efficiency: For the firm: requires that the firm be producing its output at the lowest possible cost For the industry: requires that all firms ...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Competitive Equilibrium, Economic Equilibrium, Marginal Revenue

SHORT-RUN COMPETITIVE EQUILIBRIUM Total, Average, and Marginal Revenue Total revenue (TR): TR = p*Q Average revenue (AR): AR = TR/Q = (p*Q)/Q = p Marginal revenue (MR): MR = dTR/dQ Short-Run Decisions Any profit-maxim...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Fixed Cost, Marginal Product, Diminishing Returns

PRODUCTION AND COSTS The Production Function Q = f(L, K) Q = flow of output, L = flow of labour services, K = flow of capital services, changes in technology = changes in f Profit-Maximizing Output profit = TR - TC T...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Net Domestic Product

NATIONAL ACCOUNTS Gross Domestic Product (GDP): total value of final goods and services produced in the economy during a given period. GDP is a flow of new products during a period of time There are three different appr...

Economics
ECO100Y1
Gustavo Indart
Term Test 3 Short Intro and Stats

TERM TEST 3 SHORT INTRO AND STATS: Topics to be Covered:  Competitive Firms  Monopoly  Economic Efficiency  Comparative Advantage  Price Indices and Unemployment  National Accounts The third term test...

Economics
ECO100Y1
Gustavo Indart
ECO100Y1 Study Guide - Gross Domestic Product

NATIONAL ACCOUNTS Each firm’s contribution to total output is equal to its value added Value added = value of firm’s output - values of all intermediate goods and services Sum of all values added produced in an economy ...

Economics
ECO100Y1
Gustavo Indart
ECO100 Indart Term Test 1 Statistics

Term Test Short Intro and Stats Topics to be covered:  Opportunity Costs  Demand and Supply  Elasticity  Consumer Behaviour  Production and Costs in the Short Run  Production and Costs in the Long-Run ...

Economics
ECO100Y1
Gustavo Indart

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