Problem fef
I
pg 23
2,4
figure I
ÉÉgÉ
É
Mj
z
pg 119
1
As shown in figure
football
and
cleats
soccer
2,3
figure 2
consumer
goods
sockets
4
pg 32
cleats use the same resources
increase or
meaningthat and decreases or
decrease in one good
increases theothergoodthesame
amount In figure2 consumer
goods and producer goods use
the
verydifferent resources nearing
cost
opportunity
there is inreasing
product
market
GFrevenues
Households
firing
retreat
the
product marketand
resource market are connected
flow income All
through the
expenditures
enterthe economyand eventually
return as wages thesane
quantity
going
m
The 20th century battle reflected the
2
of
from households
push towards
of
freeracket
establishment of move farms and factories
economy This meant the
between the freemarket theoriesandhow
This parallels earlier debates
effiniently an automatic economy would reallyfunction
and
ecological economics are consciousofhow
the economy changes due to the environment on socialtrends Rather
then focusing on the relationship between buyer and seller itfocuses
on how outside factors studied by social andphysical scientists
Behavioral
3
economics
can affect consumers
2
it
s figured
insane
surplus
Martyprom
It It
D
chocolate
bars
Q
Asshown in figure I
for the quantityof
consumersurplus onur
goods thatgetssoldfor
lessthen whet the ions mers worldpay Produce
surplus occurs when a producer sells a
product
for
formore then whet theywouldsell it
community surplus is the totalof consumer
and producersurplus