CMA
ECO
ECO
Kartei Details
| Karten | 30 |
|---|---|
| Sprache | Deutsch |
| Kategorie | BWL |
| Stufe | Andere |
| Erstellt / Aktualisiert | 09.10.2011 / 07.06.2014 |
| Lizenzierung | Kein Urheberrechtsschutz (CC0) |
| Weblink |
https://card2brain.ch/box/cma
|
| Einbinden |
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Facts human nature is based on
1. human nature has unlimited desires
2. scarecity of economic resources
factors of production
land, labour capital (capital goods, investment goods)
and entrepreneurial ability
Problems that individuals and economy face
1) Individuals must decide how the spend their limited income to maximize their individual satisfaction
2) Economy deals with the allocation of limited resources
Questions an economic system must answer
1. What/how much goods and services must be produced
2. How should they be produced
3. For whom should they be produced
Def. Microeconomics
analyzes the operation of markets as a result of interactions between consumers and firms
Demand
quantity of goods and services that consumers are willing and able to purchase
-consumer wants greatest amount of utility
Law of demand
as the price of a product is reduced, the quantity demanded for the product will increase
cause for a movement along the demand curve
change in price of good
(all other changes will shift the entire curve)
