anth 420 class notes

Name: Econ 201 Week 1-2
Brand: StudySoup
SKU: 118151
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Econ 201- Microeconomics- Glen Waddell Class 3 • First Order of Business: Attend lectures, he’s not going to grab questions for out of thin air that he didn’t teach in class • Class 2 recap: What’s a price? –Ratio of exchange (in a market) o Can you change just one price? No, everything is affected in some way o Can’t regulate just one aspect of human behavior o Examples: § Raise price of DUI’s- increase hit and runs § Raise price of wearing a seatbelt- price of speeding goes down § Lowering price of public transport to increase customers in downtown shops- “poor” people are more easily acc