ECON 2030 Chapter : Menu 27 Jan 14
Document Summary
Today"s menu: monday 27 january 2014: business. Substance: chapter 2: 1, 2, 4-6, 9, 10, chapter 2, appendix a: 1-3, 5, 8, practice problems (answers on moodle, office hours tomorrow: 9:15-12:15, first exam: two weeks from today (10 february, positive vs. normative economics. Productivity* doesn"t matter, it must be something else, because we would produce them ourselves if so. Must have something to do with cost, opportunity cost: if trade can make everyone better off, why is there so much opposition to it, 2 things to look at: opportunity cost, graphing. *says can make everyone better off: numerical slope = opportunity cost. It depends on who you ask because nudists wouldn"t need: economic growth - can produce more, optimal point, how trade can benefit all: an example, assumptions, two countries: england, portugal, two homogeneous goods: wine, cloth. *they"re exactly the same, only thing that matters is the.
