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Economics: Difference between revisions
trying to describe Business Economics topics in the headings
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= Business Economics = | = Business Economics = | ||
== Week 43 == | == Week 43 - Markets, scarcity and decisions == | ||
* In '''[[w:market]]s''' ( [[w:fi:Markkinat (taloustiede)]] ) '''[[w:demand]]''' and '''[[w:supply (economics)|supply]]''' control the prices and goods that are produced. This is the model of '''[[w:Supply and demand]]''' ( [[w:fi:Kysyntä ja tarjonta]] ) . | * In '''[[w:market]]s''' ( [[w:fi:Markkinat (taloustiede)]] ) '''[[w:demand]]''' and '''[[w:supply (economics)|supply]]''' control the prices and goods that are produced. This is the model of '''[[w:Supply and demand]]''' ( [[w:fi:Kysyntä ja tarjonta]] ) . | ||
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* '''[[w:Normal good]]s''' are any goods for which demand increases when income increases and falls when income decreases but price remains constant, i.e. with a positive [[w:income elasticity of demand]]. ( Wikipedia ) vs. an '''[[w:inferior good]]''' is a good that decreases in demand when consumer income rises, unlike normal goods, for which the opposite is observed. ( Wikipedia ) | * '''[[w:Normal good]]s''' are any goods for which demand increases when income increases and falls when income decreases but price remains constant, i.e. with a positive [[w:income elasticity of demand]]. ( Wikipedia ) vs. an '''[[w:inferior good]]''' is a good that decreases in demand when consumer income rises, unlike normal goods, for which the opposite is observed. ( Wikipedia ) | ||
== Week 44 == | == Week 44 - Economies of scale, utility, elasticities == | ||
'''[[w:Economies of scale]]''' In microeconomics, economies of scale are the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. | '''[[w:Economies of scale]]''' In microeconomics, economies of scale are the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. | ||
'''[[w:Diseconomies of scale]]''' are the forces that cause larger firms and governments to produce goods and services at increased per-unit costs. The concept is the opposite of economies of scale. ( Wikipedia ) | '''[[w:Diseconomies of scale]]''' are the forces that cause larger firms and governments to produce goods and services at increased per-unit costs. The concept is the opposite of economies of scale. ( Wikipedia ) | ||
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:::::: There are more elasticies in the [[w:Elasticity (economics)]] | :::::: There are more elasticies in the [[w:Elasticity (economics)]] | ||
== Week 45 == | == Week 45 - Market structures, competitions and costs == | ||
'''[[w:Total cost]]''' == '''[[w:fixed cost]]''' + '''[[w:variable cost]]s''' | '''[[w:Total cost]]''' == '''[[w:fixed cost]]''' + '''[[w:variable cost]]s''' | ||
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'''[[w:Game theory]]''' ( [[w:fi:Peliteoria]] ) is a study of strategic decision making. More formally, it is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers." | '''[[w:Game theory]]''' ( [[w:fi:Peliteoria]] ) is a study of strategic decision making. More formally, it is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers." | ||
== Week 46 == | == Week 46 - Macroeconomics == | ||
{{Taxation}} | {{Taxation}} | ||
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:::'''[[w:Consumer price index]]''' (CPI) ( [[w:fi:Kuluttajahintaindeksi]] ) measures changes in the price level of consumer goods and services purchased by households. ( Wikipedia ) | :::'''[[w:Consumer price index]]''' (CPI) ( [[w:fi:Kuluttajahintaindeksi]] ) measures changes in the price level of consumer goods and services purchased by households. ( Wikipedia ) | ||
== Week 47 == | == Week 47 - Financial markets, job markets== | ||
* '''[[w:Financial markets]]''' ( [[w:fi:Rahoitusmarkkinat]] ) are important for enabling financing of '''[[w:investment]]s''' ( [[w:fi:Investointi]] ) | * '''[[w:Financial markets]]''' ( [[w:fi:Rahoitusmarkkinat]] ) are important for enabling financing of '''[[w:investment]]s''' ( [[w:fi:Investointi]] ) | ||