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Textbook Notes for Dziadula Eva

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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter 2: Chapter 2

OC9505549 Page
9
Economists approach the study of the economy in the same way that a scientist does. They devise theories, collect data, and then analyze these data in
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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter Notes - Chapter 12: Fixed Cost, Allocative Efficiency, Sunk Costs

Week 10: oct 30 - chapter 12: firms in perfectly. Industry: all the firms selling a particular good or service. Example of a perfectly competitive indu
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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter Notes - Chapter 10: Network Effect, Inferior Good, Budget Constraint

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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter Notes - Chapter 5: Ronald Coase, Market Failure, Sulfur Dioxide

Week 7 - externalities, environmental policy and public. Chapter 5: externalities, environmental policy and public goods. It is just one example of an
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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter Notes - Chapter 4: Economic Equilibrium, Deadweight Loss, Government Spending

Chapter 4: economic efficiency, government price setting and taxes (continued) When the government taxes a good or service, it affects the market equil
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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter 5: Chapter 5

OC95055411 Page
19
Elasticity: a measure of how much buyers and sellers respond to changes in market conditions. Used to measure how much consumers respond to changes in
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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter 4: Chapter 4

OC95055412 Page
9
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NDECON 10010Dziadula EvaFall

ECON 10010 Chapter Notes - Chapter 1: Marginal Utility, Marginal Cost, Opportunity Cost

OC9505547 Page
10
Economy: comes from the greek word oikonomos which means one who manages a household . Scarcity: society has limited resources and therefore cannot pro
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