Tag: gains from trade

The Spirit of Giving – Re-examining the notion of “Value”

Post author By Tom Spencer
Post date December 25, 2016
No Comments on The Spirit of Giving – Re-examining the notion of “Value”

Merry Christmas! Joyeux Noël! Sheng Dan Kuai Le! (圣诞快乐!) Wishing you an enjoyable day, and a happy holiday season spent with good people, surplus amounts of food and drinks, and a large number of gifts! One idea that is firmly associated with Christmas is gift giving. This is a central part of the Christian tradition, […]

Tags Business Strategy, consulting, consumer surplus, cost, Don Wright, gains from trade, Kunal Sengupta, Management Consulting, price, Sydney University, Tiho Ancev, value, willingness to pay

Economics

Mankiw’s 10 Principles of Economics

Post author By Tom Spencer
Post date November 23, 2011
3 Comments on Mankiw’s 10 Principles of Economics

Economics is about decision making in situations of scarcity ECONOMICS is the study of how individuals, firms and government make decisions to manage scarce resources. What does this mean exactly? Professor Greg Mankiw teaches economics at Harvard University and is the author of a popular economics text book called Principles of Economics which is used at many Ivy League […]

Tags Economics, gains from trade, government regulation, Greg Mankiw, incentives, inflation, Mankiw's 10 Principles of Economics, marginal benefit, marginal cost, opportunity cost, standard of living, tradeoffs, unemployment