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Ten Principles of
Economics
Economics
N. Gregory
PRINCIPLES OF
Mankiw
In this chapter,
look for the answers to these
questions:
The principles of
HOW PEOPLE
MAKE
DECISIONS
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ACTIVE LEARNING 1
The principles
of
HOW PEOPLE
INTERACT
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15
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17
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Causes:
Externalities, when the production or consumption
of a good affects bystanders (e.g. pollution)
Market power, a single buyer or seller has
substantial influence on market price (e.g. monopoly)
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20
The principles
of
HOW THE
ECONOMY
AS A WHOLE
WORKS
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23
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CHAPTER SUMMARY
CHAPTER SUMMARY
CHAPTER SUMMARY
The principles of the economy as a whole are:
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