Search for notes by fellow students, in your own course and all over the country.
Browse our notes for titles which look like what you need, you can preview any of the notes via a sample of the contents. After you're happy these are the notes you're after simply pop them into your shopping cart.
My Basket
Ethics in Marketing and Consumer Protection£2.50
Consumer Behavior£12.50
Clark Wilson Model£2.50
Macroeconomics £3.75
Agency Law£1.50
CFA Level 2 - Corporate Finance£6.25
Investments Vocabulary £1.35
Economics Assignment£3.75
lecture notes economics - Principles of rational choice£1.50
OPERATIONS STRATEGY AND MANAGEMENT EXAM NOTES UEA/ UK£2.50
Classification of goods£125.00
Total£163.10
Or: Edit My Basket
Title: Scarcity & Opportunity cost of capital
Description: A brief introduction on what economics is and the difference between Microeconomics and Macroeconomics. A clear explanation of some key concepts of what scarcity, opportunity cost of capital and trade-off is. Lastly there is an illustration of what the production possibility boundary is used for and what it means in economics.
Description: A brief introduction on what economics is and the difference between Microeconomics and Macroeconomics. A clear explanation of some key concepts of what scarcity, opportunity cost of capital and trade-off is. Lastly there is an illustration of what the production possibility boundary is used for and what it means in economics.
Document Preview
Extracts from the notes are below, to see the PDF you'll receive please use the links above
Microeconomics Introduction
...
Macroeconomics & Microeconomics:
Macroeconomics: It is the big picture stuff, economics on government level
...
It includes stuff like unemployment,
inflation, and GDP
...
It is the small-scale stuff
...
It can be considered as the allocation of scarce
resources
...
It is
better without a central plan
...
“A market economy is self-organising in the sense that when individuals act independently
to pursue their own self-interest, responding to prices set on open markets, they produce
co-ordinated and relatively efficient economic activity
...
Economic Concepts:
1) Scarcity: Scarcity is when things aren’t available as much as the demand
...
In other words things (resources) are limited
...
When making decisions on scarce
resources there are trade-offs
...
For example, taking a day off work to go to a concert
...
It is compromise made by the individual when they had two
desirable things to choose from which were incompatible
...
3) Opportunity cost of capital: this is the cost of obtaining a unit of one product in
terms of number of units of other products that could’ve been obtained instead
...
This
can be shown by a production possibility frontier/boundary
...
Movement from one point to another on the
boundary shows a shift in the amounts of goods being produced, which requires a
reallocation of resources
...
On the curve
are the best possible combinations that are attainable
...
This is
the trade-off between private sector
goods and public sector goods
...
Title: Scarcity & Opportunity cost of capital
Description: A brief introduction on what economics is and the difference between Microeconomics and Macroeconomics. A clear explanation of some key concepts of what scarcity, opportunity cost of capital and trade-off is. Lastly there is an illustration of what the production possibility boundary is used for and what it means in economics.
Description: A brief introduction on what economics is and the difference between Microeconomics and Macroeconomics. A clear explanation of some key concepts of what scarcity, opportunity cost of capital and trade-off is. Lastly there is an illustration of what the production possibility boundary is used for and what it means in economics.