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Econ110 Summary Up Until Chapter 37

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Econ110 Summary Up Until Chapter 37

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43 Pages Partial Study Notes > 2 Years old
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Topics this document covers:
Business Gross domestic product Inflation Keynesian economics Aggregate supply Aggregate demand Economic theories Economics Macroeconomics Monetary policy Demand for money General equilibrium theory Circular flow of income
This is a Partial Set of Study Notes

Partial Study Notes typically cover only single topics of a unit of study or do not cover multiple topics in significant detail. They are generally less than 20 pages in length.

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Topics this document covers:
Business Gross domestic product Inflation Keynesian economics Aggregate supply Aggregate demand Economic theories Economics Macroeconomics Monetary policy Demand for money General equilibrium theory Circular flow of income
Sample Text:
Needs encompass three obvious candidates ie. nourishment, shelter and clothing, whilst wants include knowledge, love/affection, morality, laws, collective decision-making, creative arts, leisure time and environmental quality. The resources available to humans to satisfy their needs and wants include: o Labour Both physical and mental work o Nature Attributes of the natural environment (eg. living things, the fertility of soil, solid components such as rocks and minerals and fluids such as water and gases) o Manufactured items All produces items/machinery which are then used to produce other entities (eg. tools, machines and networks of transport and communications). o Knowledge All current practical, scientific a...
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