Exam (elaborations)
Macroeconomics ECO 202 Questions, Answers, Rationales | Latest Updates
- Course
- Institution
Macroeconomics ECO 202 Questions, Answers, Rationales | Latest Updates
[Show more]
Content preview
Macroeconomics ECO 202Study online at https://quizlet.com/_g1jwy0
1. Economy Economic value of all activities within the society.
2. 2 types of eco- microeconomics and macroeconomics
nomics
3. Microeconomics About businesses and individuals in a particular society
and working together to produce goods and services.
4. Macroeconomics Includes not only businesses and individuals involvement
but also government involvement in producing goods and
services globally.
5. 5 resources Natural, Human, Capital, Entrepreneurship, and Knowl-
needed to pro- edge
duce goods and
services
6. Two types of Eco- Free Market (Capitalism) , and Planned (Socialism, and
nomic Systems Communism)
7. Communism Uses all resources
(planned)
8. Socialism "a little give and take", give a little to get a little.
(planned)
9. What defines a - Gross Domestic Product, and how the country deter-
rich country vs, a mines how to their resources are used.
poor country? -Economic Freedom/ Ownership- gives countries incen-
tives to work and improve their private properties ( if you
own something take care of it).
10. Gross Domestic puts a dollar amount on all economic activities within
Product country.
11. Per Capita Take the "GDP" of the country and divide it by the popula-
tion
12. Private property - do whatever you want with what you own so long as you
rights don't harm others.
1/2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TUTORliz. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
