AGRICULTURAL ECONOMICS AND MARKETING 2: Ten Principles of Economics скачать в хорошем качестве

AGRICULTURAL ECONOMICS AND MARKETING 2: Ten Principles of Economics

B. PRINCIPLES OF ECONOMICS Principle #1: People Face Trade offs Principles #2: The Cost of Something Is What You Give Up to Get It Principle #3: Rational People Think at the Margin Principles #4- People responds to incentives Principle # 5- Trade Can Make Everyone Better Off Principle #6- Markets Are Usually A Good Way to Organize Economic Activity Principle #7- Governments Can Sometimes Improve Market Outcomes Principle #8- A country’s standard of living depends on its ability to produce goods & services. Principle #9- Prices rise when the government prints too much money. Principle #10- Society faces a short-run tradeoff between inflation and unemployment