PreparED Study Materials
ECON 2713: Intro to Food & Resource Economics
School: Mississippi State University
Number of Notes and Study Guides Available: 1
Notes
Videos
Pros and Cons of Government-Created Monopolies
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Explore the concept of government-created monopolies, which are entities granted exclusive rights, like licenses, patents, and copyrights. While they can promote innovation and efficiently operate in high-cost industries, they might also introduce inefficiencies and stifle competition. Weighing the pros and cons is essential.
First Video In Our Three Part Series for Midterms
Intro to Economics: Understanding the Fundamentals of Spending
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Explore economics with a focus on scarcity, supply and demand, and elasticity. Gain practical insights into decision-making and economic principles that impact our world.
Market Economy Pros & Cons: Balancing Benefits with Shortcomings.
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Discover the intricate workings of a market economy, highlighting its notable advantages such as efficiency and innovation, and addressing the critical challenges like income inequality and market failures. Understand the balance between market and non-market elements in global economic systems.
Key Factors in Assessing International Trade Benefits
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This video delves into the advantages of international trade, using the example of France's specialization in wine production, and explores different options while highlighting the concept of comparative advantage without revealing the ultimate answer.
Economists' Diverse Views: Advising Policymakers with Perspective
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Explore the multifaceted role of economists in society, their interpretation of complex economic data, and how they provide guidance to decision-makers. Discover why economists may offer conflicting advice due to varying economic theories, data interpretation, personal values, and political ideologies.
How Unexpected Inflation Impacts Creditors, Debtors, & Business Operat
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Unexpected inflation can shift wealth between lenders and borrowers. This phenomenon affects the real value of money repaid, disadvantaging the creditors. Additionally, businesses face operational expenses like menu costs during inflation adjustments.