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Textbook Notes for Economics at University of Colorado - Boulder (CU-BOULDER)


CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter 2: Chapter2_Thinking Like an Economist

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CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter Notes - Chapter 1: Opportunity Cost, Externality, Marginal Cost

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Decisions require trading a resource for another. Decisions require comparing the costs and benefits of other decisions: the opportunity cost of a deci
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CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter Notes - Chapter 4: Demand Curve, Mercedes-Benz 130

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The following is a demand schedule of an ice-cream cone: a demand curve is the visual representation through a graph of the relationship between the pr
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CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter Notes - Chapter 6: Price Ceiling, Economic Equilibrium, Tax Incidence

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CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter Notes - Chapter 9: Comparative Advantage, Economic Surplus, Amay

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The effect of a world price to a small exporting domestic economy: economies that allow trade and become exporters of goods and services benefit domest
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CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter Notes - Chapter 10: Social Cost, Externality, Coase Theorem

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Chapter 10 externalities: an externality is when the decisions of an individual impact the well-being of an uninvolved bystander. If the impact on the
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CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter Notes - Chapter 8: Deadweight Loss, Economic Surplus, Laffer Curve

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CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter 5: Chapter5_Elasticity and Its Application

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When quantity demanded responds substantially to a change in price, the demand is said to be elastic. When quantity demanded responds slightly to a cha
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CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter Notes - Chapter 7: Economic Surplus

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Consumer surpluses measure the benefit buyers receive from participating in a specific market. The buyer who would abandon a market first if the price
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CU-BOULDERECON 2010GourleyFall

ECON 2010 Chapter Notes - Chapter 3: Absolute Advantage, Comparative Advantage, Opportunity Cost

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CU-BOULDERECON 2010Alexander HillFall

ECON 2010 Chapter Notes - Chapter 1: Market Failure, Opportunity Cost, Market Power

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Economy comes from the greek word oikonomos , which means. Economies and households have a lot in common, in the sense that it has to divide the resour
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CU-BOULDERECON 2010Alexander HillFall

ECON 2010 Chapter Notes - Chapter 4: Inferior Good, Perfect Competition, Invisible Hand

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Supply and demand are the forces that make market economies work. They determine the quantity of each good produced and the price at which it is sold.
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