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Textbook Notes for ECON 104 at Simon Fraser University (SFU)

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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter Notes - Chapter 8: Bc Transit, Via Rail, Bc Hydro

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Firm rather large compared to market we say it has market power. Firm may change price their market power with monopolist, price searchers or monopoly
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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter Notes - Chapter 6: Potential Output, Transaction Cost, E-Commerce Payment System

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Measure that describe economy as a unit. Chapter 6 macroeconomic aggregates: thinks about overall product of good and service allowed. Try and afect na
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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter Notes - Chapter 10: Canada Revenue Agency, Human Capital, Extreme Poverty

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People have different position in distribution of what matters. Income inequality: about distribution of all monetary (and some non-monetary) receivabl
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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter Notes - Chapter 7: Phillips Curve, Overnight Rate, Structural Unemployment

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Government may be able to influence some macroeconomic aggregate and may be. Increase in gdp indicates that we generally better off. Lower unemployment
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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter Notes - Chapter 3: Pareto Efficiency, Allocative Efficiency, Economic Surplus

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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter Notes - Chapter 5: Competitive Equilibrium, Market Failure, Pigovian Tax

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Marginal social benefit and marginal cost give value and cost from social perspective: equate 2 generate socially efficient outcome. Tragedy of commons
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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter 1-10: ECON 104 Chapter 1-10: ECON 104 Chapter 1-10: Economics and Government Reader

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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter Notes - Chapter 4: Income Tax, Negative Number, Payroll Tax

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Price elasticity of demand is negative number: easy to confuse thus drop negative sign and report elasticity as a positive number. If (absolute value)
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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter Notes - Chapter 1: Unemployment Benefits, Capitalism

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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter Notes - Chapter 9: Perfect Information

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First fundamental theorem states perfect information implies that everyone knows every price and every actor knows everything about commodity being tra
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SFUECON 104Vasyl GolovetskyySpring

ECON 104 Chapter 4: Summary of Chapter 4 Taxes

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The different ways in which government intervene in market . Price can"t fall below government mandated min. (quantity less than. Price ceiling price c
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SFUECON 104Vasyl GolovetskyyFall

ECON 104 Chapter Notes - Chapter 1: Justin Trudeau, Direct Tax, Indirect Tax

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Government: the group of people who control and make decisions for a country, state, etc. Describing and analysing of the production, distribution, and
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