TEN PRINCIPLES OF ECONOMICS

A.  How People Make Decisions

Principle  1 : People Face Trade-Offs

Principle  2 : The Cost of Something is What You Give Up to Get It

Principle  3 : Rational People Think at the Margin

Principle  4 : People Respond to Incentives

B.  How People Interact

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 Markets Outcomes

C.  How the Economy as a Whole Works

Principle  8 : A Country’s Standard of Living Depends on Its Ability to Produce Goods and Services

Principle  9 : Prices Rise When the Government Prints Too Much Money

Principle 10: Society Faces a Short-Run Trade-Off Between Inflation and Unemployment

(by N. Gregory Mankiw)

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Pos ini dipublikasikan di Economics. Tandai permalink.

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