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Economics for Business Final Notes

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Final Notes for 23115 - Economics for Business at University of Technology Sydney. Lectures 5-10

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35 Pages Complete Study Notes > 2 Years old
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5 Ex Credits


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Topics this document covers:
Economy Macroeconomics Economics Inflation National accounts Price indices Demand Monetary economics GDP deflator Real gross domestic product Gross domestic product Full employment
This is a Complete Set of Study Notes

Complete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics.

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Topics this document covers:
Economy Macroeconomics Economics Inflation National accounts Price indices Demand Monetary economics GDP deflator Real gross domestic product Gross domestic product Full employment
Sample Text:
Market Failures and Economics of the public sector: Markets do not do everything well and when they do not governments can improve market incomes Market failures we study fall under a general category called externality: It is afailure because the market does not allocate scarce resources efficiently. Examples of negative externalities: car exhaust, cigarette smoking, loud household pets, law mowers, loud music in an apartment building. Examples of positive externalities: Immunisation/vaccination, restoration of historic buildings, research into new technologies. Uncompensated impact: The person whose activity ...
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