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Economics Lecture Two (view source)
Revision as of 02:56, February 28, 2013
, 02:56, February 28, 2013bettter formatting
''You can post answers here: [[Economics Homework 2 Answers]]''
''You can post answers here: [[Economics Homework 2 Answers]]''
<br>One miracle is mentioned in all four Gospels of the Bible: the multiplication of the loaves and fish by Jesus to feed the crowd of thousands. It illustrates God easily '''''overcoming''''' a scarcity in food. Similarly, the devout Puritans overcame scarcity and created wealth under harsh conditions in New England in the early 1600s. Scarcity is no problem for God, but it can be a huge problem for those who turn away from God.
<br>{{Economics_Lectures}}
One miracle is mentioned in all four Gospels of the Bible: the multiplication of the loaves and fish by Jesus to feed the crowd of thousands. It illustrates God easily '''''overcoming''''' a scarcity in food. Similarly, the devout Puritans overcame scarcity and created wealth under harsh conditions in New England in the early 1600s. Scarcity is no problem for God, but it can be a huge problem for those who turn away from God.
Economics is the study of the '''''transfer''''' of goods and services. What determines the '''''price''''' and '''''quantity''''' of goods transferred? How much must a buyer pay in order to acquire the good (the price), and how many units of the good (the quantity) will the seller be able to sell at that price?
Economics is the study of the '''''transfer''''' of goods and services. What determines the '''''price''''' and '''''quantity''''' of goods transferred? How much must a buyer pay in order to acquire the good (the price), and how many units of the good (the quantity) will the seller be able to sell at that price?