Hello it’s me the Economics Chicken. I make all the decisions for my chicken friends. I see you have some interest in economics :). Enjoy your stay here!
It’s Pun Time!
Who had the most success after inflation hit the market? Bouncy castles.
I withdrew $10 from the bank today. A lady asked me to check her balance so I pushed her. She fell over.
Economics is the study of making decisions under the conditions of scarcity, with unlimited wants and limited needs, we are forced to make a choice and give up something - opportunity cost is the cost of the next best alternative that is forgone in order to obtain more of something else. Economics deals with the basic economic problem.
Here are my Year 12 notes that I have made so far:
Unit 4
- Business Cycle & Macroeconomic Indicators
- Aggregate Expenditure
- The Consumption Function + Disequilibrium AE Graph 1
- Multiplier Effect AE Graph 2
- Aggregate Demand & Aggregate Supply
- Economic Objectives
- Fiscal Policy
- Monetary Policy
- Labour Productivity
Unit 3
- Australia’s International Trade
- Free Trade and Protection
- Balance of Payments
- Terms of Trade
- Exchange Rates
- Foreign Investment
Here are my Year 11 notes that I have made:
Unit 2
- Economics Unit 1 and 2 Summary (Exam Stuff)
- The Government’s Role in Economy
- Income & Wealth Distribution
- The Business Trade Cycle (BTC)
Key Economic Indicators: