Econ 200 Econ 200 Jan 3 sojda 1 jacklyn sarko 11 by hrguillozet

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									Econ 200


Jan 3

sojda.1 - jacklyn
sarko.11 - sally
email addresses

email lecturer to make apppointments outside of office hours
need study guide for practice
exams are multiple choice
90% is guaranteed A

Chapter 1 - Limits, Alternattives, & Choices

Economics - the study of how best to allocate scarce resources among competing
uses
     unlimited wants, but limited resources

Thinking like an economist
      Key Features
              Scarcity & choicee
                     opportunity cost - by choosing something, you are missing out
on                   something else
              Purposeful Behavior
                     make rational decisions
              marginal analysis - additional
                     marginal cost/benefit - what is the additional cost/benefit of
this                 action

								
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