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Slide 1ECON 161 Week 02: September 05, 2012 The functioning of Markets: The interaction of buyers and sellers. (Chapter 3) Slide 2 Construction of Theory Abstractions Definitions…

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Unit I: Basic Economic Concepts What is Economics in General? Economics is the study of _________. Economics is the science of scarcity. Scarcity is the condition in which…

Unit I: Basic Economic Concepts Why are we âSpeed Reviewingâ? Having you review on your own wouldnât be effective Lecturing about every concept would be too boring. âSpeed…

Slide 1 Slide 2 Unit I: Basic Economic Concepts Slide 3 What is Economics in General? Economics is the study of _________. Economics is the science of scarcity. Scarcity…

Slide 1 Welcome to ECON 160 Principles of Microeconomics Professor Tontz Slide 2 Instructor Richard Tontz Office: JH 4253 Email: [email protected] Phone: (818) 677-2433…

Slide 1 Economics “Econ, Econ” Econ Slide 2 What is Economics? Economics is the study of _________. Economics is the science of scarcity. Scarcity means that we have…

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