Wek 1 Notes Macroeconomics
Wek 1 Notes Macroeconomics EC 202
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This 1 page Class Notes was uploaded by Melina Canzano on Monday September 7, 2015. The Class Notes belongs to EC 202 at Michigan State University taught by Z. Macomber in Summer 2015. Since its upload, it has received 431 views. For similar materials see Introduction to Macroeconomics in Economcs at Michigan State University.
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Date Created: 09/07/15
MACROECONOMICS WEEK 1 NOTES oEconomy The set of social arrangemen rs rha r answer 3 fundamen ral ques rions l Wha r is produced 2 How is i r produced 3 for whom is i r produced Global economy is larges r defini rion Mos r economies are labor vs capi ral oEconomy The s rudy of produc rion consump rion and dis rribu rion of goods and services Also involves lhe s rudy of choices 0 Marke r An ins ri ru rion iha r brings ioge rher buyers and sellers Dis rribu rion rakes place lhrough marke rs o Marke rorien red economy Decisions made by buyers and sellers o Command economy Governmen makes or strongly influences rhe economic decisions made SCALE Marke r USA CIINA Command