Principles of Economics, Macroeconomics
Principles of Economics, Macroeconomics ECON 2410
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This 1 page Class Notes was uploaded by Karen Stamm on Wednesday September 23, 2015. The Class Notes belongs to ECON 2410 at Middle Tennessee State University taught by Michael Hammock in Fall. Since its upload, it has received 40 views. For similar materials see /class/213019/econ-2410-middle-tennessee-state-university in Economcs at Middle Tennessee State University.
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Date Created: 09/23/15
List of Topics for Exam 1 Chapter 2 Scarcity and choice The rationality assumption Positive versus Normative Economics Trade creates value Chapter 4 The Law of Demand Market demand versus individual demand The Law of Supply Market supply versus individual supply Change in demand versus change in quantity demanded Change in supply versus change in quantity supplied Things that can shift supply or demand The invisible hand How equilibrium occurs even though no one is llrunning things What happens when both demand and supply move at the same time Chapter 5 Elasticity OwnPrice Arc Elasticity of Demand CrossPrice Arc Elasticity of Demand Income Arc Elasticity of Demand Price Arc Elasticity of Supply Graphs for elastic and inelastic demand and supply Chapter 7
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