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Textbook Notes for Mak Arvin

TRENTECON 1010HMak ArvinWinter

ECON 1010H Chapter Notes - Chapter 1: Carbon Price, Financial Capital, Human Capital

OC14078774 Page
12 Jan 2017
5
Economics is the study of choices and their consequences. It is a social science that studies the choices made by individuals, businesses and governmen
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TRENTECON 1010HMak ArvinWinter

ECON 1010H Chapter Notes - Chapter 7: Voluntary Export Restraints, Export Subsidy, Deadweight Loss

OC14078772 Page
17 Apr 2017
0
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TRENTECON 1010HMak ArvinWinter

ECON 1010H Chapter Notes - Chapter 6: Price Ceiling, Deadweight Loss, Price Floor

OC14078772 Page
17 Apr 2017
0
Price ceiling or price cap - a government regulation that make it illegal to charge price higher than a specified level. A price ceiling above the equi
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TRENTECON 1010HMak ArvinWinter

ECON 1010H Chapter Notes - Chapter 2: Marginal Utility, Marginal Cost, Allocative Efficiency

OC14078772 Page
25 Jan 2017
1
The production possibility frontier is the boundary between those combination of goods and services that can be produced and those that cannot because
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TRENTECON 1010HMak ArvinWinter

ECON 1010H Chapter Notes - Chapter 10: Opportunity Cost, Economic Efficiency, W. M. Keck Observatory

OC14078773 Page
17 Apr 2017
0
Firm - is an institution that hires factors of production and organizes those factors to produce and sell goods and services. Depreciation - is the fal
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TRENTECON 1010HMak ArvinWinter

ECON 1010H Chapter Notes - Chapter 5: Deadweight Loss, Economic Surplus, Price Floor

OC14078772 Page
17 Apr 2017
0
Resource allocation method: market price, command system, majority rule, contest, first come, first serve, lottery, personal characteristics, force. Va
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TRENTECON 1010HMak ArvinWinter

ECON 1010H Chapter Notes - Chapter 8: Marginal Utility, Demand Curve, Neuroeconomics

OC14078772 Page
17 Apr 2017
0
Consumption possibilities is shown by a budget line which marks the boundary between those combinations of goods and services that a household an buy a
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TRENTECON 1010HMak ArvinWinter

ECON 1010H Chapter Notes - Chapter 4: Long-Distance Calling, Demand Curve, Normal Good

OC14078772 Page
16 Apr 2017
0
Price elasticity of demand- is a unit free measure of the responsiveness of the quantity demanded of a good to a change in its price. Perfectly inelast
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