Question
articles or news events, these articles must be published after 5th January 2021 academic articles that do not even mention economics, but you can recognize
articles or news events, these articles must be published after 5th January 2021 academic articles that do not even mention economics, but you can recognize economics.
List of concepts that you can find articles to explain: Discuss any two or 3 following concepts with references to articles.
1) Principle 1: People face tradeoffs
2) Principle 2: Opportunity Cost: The cost of something is what you give up to get it
3) Principle 3: Rational people think at the margin
4) Principle 4: People respond to incentives 5) Principle S: Trade (or Specialization) can make everyone better off
6) Principle 6: Markets are usually a good way to organize economic activity
7) Principle 7: Governments can sometimes improve market outcomes 8) The production possibilities frontiery
9) Absolute advantage
10) Comparative advantage 11) Demand curve: a change in the price of the good itself
12) Demand curve: a change in income: normal good 13) Demand curve: a change in income: inferior good
14) Demand curve: a change in the prices of related goods: substitutes
15) Demand curve: a change in the price of related goods: complements
16) Demand curve a change in the number of buyers 17) Demand curve: a change in tastes and preferences.
18) Demand curve: a change in buyers' expectations
19) Supply curve: a change in the price of the good itself
20) Supply curve: a change in input prices 21) Supply curve: a change in technology
22) Supply curve: a change in sellers' expectations 23) Supply curve: a change in the number of sellers
24) A market equilibrium
25) A market surplus 26) A market shortage
27) The price elasticity of demand 28) The price elasticity of supply
29) The income elasticity of demand
30) The cross-price elasticity of demand
33) A price ceiling 32) A price floor
33) A tax on buyers and/or sellers
34) Consumer surplus
35) Producer surplus 36) The benevolent social planner and total surplus
37) Efficiency-allocating resources to maximize total surplus 38) Equality-allocating resources uniformly
39) Market failure
40) An externality (either positive or negative) and the attempt to resolve it
41) Chapter 13 Table 3: Two of the many types of costs 42) Profit maximization in a competitive firm
43) Sunk cost 44) Monopoly
45) Price discrimination
46) Oligopoly,
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