# Textbook Notes for Ken Jackson

• 112 Results

WLUEC120Ken JacksonFall

## EC120- Final Exam Guide - Comprehensive Notes for the exam ( 117 pages long!)

OC537488117 Page
29 Mar 2018
0
Budget constraints: given an amount of money, what are the consumer"s options. For a normal good, a reduction in the price of the good results in . For
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WLUEC120Ken JacksonFall

## EC120 Study Guide - Midterm Guide: Price Controls, Saving, Substitute Good

OC53748854 Page
28 Feb 2018
0
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WLUEC120Ken JacksonFall

## EC120 Study Guide - Final Guide: Mercosur, Adverse Selection, Environmental Quality

OC53748828 Page
28 Feb 2018
0
Exam guide covers the following topics: factor markets, capital markets, labour markets, inequality, market failure, environmental policy, canadian tax
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WLUEC120Ken JacksonFall

## EC120 Study Guide - Midterm Guide: Average Variable Cost, Allocative Efficiency, Externality

OC53748832 Page
28 Feb 2018
0
Budget constraints: given an amount of money, what are the consumer"s options. Indifference curves: how do consumers compare their options. Represents
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WLUEC120Ken JacksonFall

## EC120 Chapter Notes - Chapter 21: Budget Constraint, Indifference Curve, Consumer Choice

OC11439103 Page
18 Oct 2016
19
All of the options are all equally good. Optimization under constraints-consumers will choose the best option available. Always a linear constraint (se
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WLUEC120Ken JacksonFall

## EC120 Chapter Notes - Chapter 1: Marginal Cost, Marginal Utility, Opportunity Cost

OC4869464 Page
2 Mar 2016
21
Scarcity (4): the limited nature of society"s resources. Economics (4): study of how society manages its scarce resources. Efficiency (5): property of
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WLUEC120Ken JacksonFall

## EC120 Chapter Notes - Chapter 5: Demand Curve

OC11439102 Page
27 Sep 2016
12
Numerical measure of how much one variable responds to a change in another variable. Elasticity of 2 variables, x and y % change in x/% change in y=ela
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WLUEC120Ken JacksonFall

## EC120 Chapter Notes - Chapter 9: Economic Surplus, Comparative Advantage, Opportunity Cost

OC11439104 Page
25 Oct 2016
8
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WLUEC120Ken JacksonFall

## EC120 Chapter 13: Chpt 13 Notes

OC15520942 Page
16 Feb 2017
0
I(cid:374)dust(cid:396)ial o(cid:396)ga(cid:374)izatio(cid:374): the study of how fi(cid:396)(cid:373) s decisio(cid:374)s (cid:396)ega(cid:396)di(cid:
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WLUEC120Ken JacksonFall

## EC120 Chapter Notes - Chapter 8: Deadweight Loss, Market Distortion, Economic Surplus

OC4869463 Page
2 Mar 2016
32
A tax on a good reduces the welfare of buyers and sellers of the good and the reduction in consumer and producer surplus usually exceeds the revenue ra
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WLUEC120Ken JacksonFall

## EC120 Chapter Notes - Chapter 1: Invisible Hand, Opportunity Cost, Market Failure

OC11439103 Page
19 Sep 2016
3
The study of how society manages its limited resources. People: how they decide what to buy, and how much to work, spend, save. Firms: how they decide
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WLUEC120Ken JacksonFall

## EC 120 Chapter 5: Chapter 5

OC4869462 Page
2 Mar 2016
26
The price elasticity of demand measures how much the quantity demanded responds to changes in the price. Demand tends to be more elastic if close subst
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WLUEC120Ken JacksonFall

## EC120 Chapter Notes - Chapter 11: Poverty Reduction, Environmental Quality, Externality

OC11439104 Page
29 Nov 2016
1
Is a good excludable: can a person be prevented from accessing it, environmental quality, national defence, others are less clear, ex. Issues of human
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WLUEC120Ken JacksonFall

## EC120 Chapter Notes - Chapter 4: Demand Curve, Economic Equilibrium, Shortage

OC15520945 Page
16 Feb 2017
0
Market: a group of buyers and sellers of a particular good or service. Buyers determine the demand for the product and the sellers determine the supply
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WLUEC120Ken JacksonFall

## EC120 Chapter 7: Consumer Surplus + Producer Surplus

OC11745452 Page
6 Oct 2016
17
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WLUEC120Ken JacksonFall

## EC120 Chapter Notes - Chapter 19: G1 Phase, Human Capital, Natural Monopoly

OC11439105 Page
6 Dec 2016
4
Factors that drive workers to or against certain jobs. Dangerous jobs: mining, forestry, critical to the valuation of human life. Pro sports: office wo
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