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Economics Lecture Seven (view source)

Revision as of 16:37, October 13, 2009

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In this Lecture we introduce the concept of "perfect competition." Let's start with "competition", a word that was first used in 1605, after Shakespeare wrote nearly all of his plays.

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Can we define "competition", and then "perfect competition"?

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that we all know. Can we define it precisely?

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<add: scarcity, revisited; how scarcity is exaggerated, particularly by atheistic approaches>

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<"green" energy: windmills in Penn. and W.Va., solar panels: are they efficient or a waste? Takes 10 years to recoup the cost of installing solar panels on a home>

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~~Seventh Lecture – Competition~~

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~~Instructor, Andy Schlafly~~

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~~==Introduction==~~

“Today the coach was fired because the team is no longer competitive.” “The problem is that the candidate is no longer competitive in that district.” “The competition was intense for the last remaining tickets to the show.” “The race was very competitive, and the fastest runner won.”

Aschlafly

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