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Econ: Economic Systems Review


Basic economic questions, economic goals, types of economic system, strengths & weaknesses of economic system.

Economics

Econ: Economic System Strenths and Weaknesses

One of the few advantages existing in a traditional economy is that the roles of individuals are clearly defined. Every member of the society knows exactly what they are to do and most don’t have any complaints about it. 544 more words

Economics

Econ: Economic Systems

Chapter 2 Quiz

Good luck

Just as forms of government vary from one nation to the next, so do economic systems. People and societies organize economic life to deal with the basic problems raised by scarcity and opportunity cost through what is called an economic system. 111 more words

Economics

Welfare economics in Econ 101

I’m wondering today, on an otherwise lovely Friday, how soon to introduce welfare economics into an introductory economics course.

I know. Bear with me.

I think one of the most fundamental jobs of introductory economics is to start to build the famous “invisible wall” between positive and normative economics. 1,146 more words

Economics

Ludicrous regulations of the US Airline Industry and Contestable Markets

We discussed Contestable Markets in my A2 class today and I used this clip from Commanding Heights to show how regulated the US airline industry was during the 1970’s. 511 more words

Economic History

Why everyone should know some basic economics.

Below is a great animation from RSA in which Ha-Joon Chang  (South Korean institutional economist specialising in development economics) explains why every single person should know some basic economics. 105 more words

Economic History