Saturday, November 10, 2012

Chapter two-- Meet too extreme(3)



























































Principles of economics.Mankiw
The Chinese word is Principles of economics; Mankiw in English.



1people face trade-offs




2the cost of something is what you give up to get it





3rational people think at margin





4people respond to incentives










5trade can make everyone better off


Let masculine that do trade is good. Then feminine is bad.









6markets are usually a good way to organize economic activity






7governments can sometimes improve market outcomes










8a country's standard of living depends on the its ability to produce goods and services

 
It is “Acquired too extreme”.








9prices rise when the government prints too much money









10 society faces short-run trade-off between inflation and unemployment





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