Lecture Note
Macroeconomics Introduction
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University
Indiana University South Bend Course
BUS-A 201 | Introduction to Financial AccountingPages
1
Academic year
2023
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Rose G
Views
13
Macroeconomies Introduction Economy is how individuals and societies allocate scarce resources. Scarcity: Limited resources and uncimited wants. Scarce resources VS Free resources give up something to getit as much as you want NORMATIVE STATEMENT POSITIVE STATEMENT Opinion, ethics, fair/unfair What can be tested. Economy starts from a complex real-world, makes simplifying assumptions and creates models. Theyare dangerous because can't be tested in an absolute way. COMMAND ECONOMY Government owns farms, factories, supermarkets and decides who gets products
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Macroeconomics Introduction
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