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Economics Lecture One (view source)

Revision as of 13:52, August 23, 2009

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→‎What Is Economics?: better, with discussion of "economically"

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Synonyms for "the flow" in this context include "market", "transactions", "making, buying, selling and consuming," and what Merriam Webster's dictionary said above: "production, distribution, and consumption."

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Your first question on the homework will be to try to improve on my definition of economics indented ~~shortly~~ above, and briefly explain why you think your version is an improvement.

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But some of the most powerful aspects of our Economics course go beyond goods and services and discuss concepts like the value of time and how we spend our time. The word "economical" means more than goods and services too; it stands for minimizing waste in many different ways, such as wasted words. "Latin describes powerful concepts '''''economically''''' because it uses few words to say a great deal."

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Your first question on the homework will be to try to improve on the definition of economics indented above, and briefly explain why you think your version is an improvement.

== The Study of Economics ==

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