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Textbook Notes for Economics / Science Èconomique at Laurentian University of Sudbury



LAURENTIANECON-1006ELEastmanWinter

ECON-1006EL Chapter Notes - Chapter 14: Trade Union, Monopsony, Collective Bargaining

Cassandra Cowan1 Page
23 May 2018
0
The acquired skills that individuals have, usually from formal education or on the job training. An association authorized to represent workers in barg
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LAURENTIANECON-1006ELEastmanWinter

ECON-1006EL Chapter Notes - Chapter 11: Imperfect Competition, Nash Equilibrium, Monopolistic Competition

Cassandra Cowan2 Page
23 May 2018
0
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LAURENTIANECON-1006ELEastmanWinter

ECON-1006EL Chapter Notes - Chapter 12: Productive Efficiency, Competition Law, Allocative Efficiency

Cassandra Cowan1 Page
23 May 2018
0
When the firm chooses among all available production methods to produce a given level of output at the lowest possible cost. When the industry is produ
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LAURENTIANECON-1006ELEastmanWinter

ECON-1006EL Chapter Notes - Chapter 5: Price Controls, Price Floor, Shortage

Cassandra Cowan1 Page
23 May 2018
0
The analysis of a single market in isolation, ignoring any feedbacks that may come from induced changes in other markets. The analysis of all the econo
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LAURENTIANECON-1006ELEastmanWinter

ECON-1006EL Chapter Notes - Chapter 13: Marginal Revenue Productivity Theory Of Wages, Lorenz Curve, Marginal Revenue

Cassandra Cowan2 Page
23 May 2018
0
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LAURENTIANECON-1006ELEastmanWinter

ECON-1006EL Chapter Notes - Chapter 2: Equation

Cassandra Cowan2 Page
23 May 2018
0
A statement about what ought to be as opposed to what actually is. A statement about what actually is (was, or will be), as opposed to what it ought to
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LAURENTIANECON-1007ELMac Lean BrianWinter

ECON-1007EL Chapter Notes - Chapter 9: Canada Deposit Insurance Corporation, Overnight Rate, Quantitative Easing

Meghan Lever7 Page
12 Mar 2017
0
To the economist, money is any asset that can be used as a means of payment for purchases and settling debts. Fiat money an asset that has no (or almos
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LAURENTIANECON-1006ELEastmanWinter

ECON-1006EL Chapter Notes - Chapter 7: Average Variable Cost, Fixed Cost, Variable Cost

Cassandra Cowan3 Page
23 May 2018
0
A firm that has one owner who is personally responsible for the firm"s actions and debts. A firm that has two or more joint owners, each of whom is per
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LAURENTIANECON-1006ELEastmanWinter

ECON-1006EL Chapter 4: Elasticity

Cassandra Cowan2 Page
23 May 2018
0
A measure of responsiveness of quantity demanded to a change in the commodity"s own price. Following a given percentage change in price, there is a sma
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LAURENTIANECON-1007ELMac Lean BrianWinter

ECON-1007EL Chapter Notes - Chapter 4: Macroeconomics, Xm Satellite Radio, Government Budget Balance

Meghan Lever3 Page
30 Jan 2017
1
Although wealthy industrialized countries are not free from poverty, hunger, and homelessness the typical person in those countries enjoys a standard o
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LAURENTIANECON-1007ELMac Lean BrianWinter

ECON-1007EL Chapter 13: Exchange Rates and the Open Economy

Meghan Lever8 Page
8 Apr 2017
0
Trade between nations usually involves dealing in different currencies. Because international transactions generally require that one currency be trade
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LAURENTIANECON-1006ELMac Lean BrianFall

ECON-1006EL Chapter Notes - Chapter 8: Price Discrimination, Deadweight Loss, Economic Surplus

Meghan Lever6 Page
6 Dec 2016
2
In the real world, we can distinguish among 3 broad types of imperfectly competitive markets: pure monopoly, oligopoly, and monopolistic competition. P
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