eco thing by Leonid Miller https://padlet.com/leonid5/m9hu723ub16gk8ny go away im gonna kill myself en-us 2022-06-15 07:17:31 UTC 2022-06-21 06:27:24 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/1732466802/8339175a095fad58ccaa513c53ef8429/economics.png Supply and demand leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221678818 Supply is the quantity of goods/services that producers are willing and able to supply to a market at a given price.

Demand is the quantity of a good/service consumers want and are able to buy at a price in a time period]]> 2022-06-15 07:20:10 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221678818 Opportunity cost leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221691954 2022-06-15 07:35:08 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221691954 Trade union leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221695272 A trade union is an organisation of workers that supports its members]]> 2022-06-15 07:38:57 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221695272 Production-possibility curve leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221698736 A production-possibility curve shows how much can be produced with a given amount of resources in a given time period. It can be used to show the choices made in an economy about what to produce. Production points can be inside the PPC - the resources are not used efficiently, or on the PPC - resources are used efficiently. The PPC can move outwards by achieving economic growth. ]]> 2022-06-15 07:43:13 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221698736 Factors of production leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221702946 2022-06-15 07:48:17 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221702946 Land leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221703243 2022-06-15 07:48:38 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221703243 Labour leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221703312 2022-06-15 07:48:44 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221703312 Capital leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221703678 2022-06-15 07:48:54 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221703678 Enterprise leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221703759 2022-06-15 07:49:01 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221703759 What I like about economics leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221716459 2022-06-15 08:04:38 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221716459 What I want to focus on leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221723144 If I knew, I would have focused on it already. I need to get better, but I'm not sure how. I guess I should do past papers/repeat command words]]> 2022-06-15 08:12:35 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221723144 Money leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221725889 Money is anything that is generally accepted as a means of payment for goods and services. It has nominal value - the value stated on the money, and intrinsic value - the actual value.]]> 2022-06-15 08:16:03 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221725889 Money characteristics leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221726242
  • Acceptable
  • Divisible
  • Durable
  • Scarce
  • Recognisable
  • Supplied stably
  • Stable value
  • Uniform

    • ]]>     2022-06-15 08:16:33 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221726242     Money types leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221726422
  • Commodity: has its own value, is a resource
    • Hard: natural resources, metals
    Soft: livestock, agricultural products
    • Fiat: value is determined by demand and supply
    • Fiduciary: value is dependant on the reputation of the issuer

    ]]>     2022-06-15 08:16:50 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221726422     Money functions leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221726570
  • Medium of exchange
  • Measure of value/unit of account
  • Standard for deferred payment
  • Store of value

    • ]]>     2022-06-15 08:17:02 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221726570     Banks leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221731089 2022-06-15 08:23:03 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221731089 Central banks leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221731390
  • Issue notes and coins
  • Control monetary policy
  • Manage reserves of foreign country
  • Act as banker to the government and commercial banks

    • ]]>     2022-06-15 08:23:21 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221731390     Commersial banks leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221731582
  • Transfer monetary policy to the rest of the economy
  • Stimulate economic growth
  • Deposits and loans
  • Finance trade
  • Offer debit/credit cards

    • ]]>     2022-06-15 08:23:35 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221731582     Investment banks leonid5 https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221732876 idk what that is]]> 2022-06-15 08:25:08 UTC https://padlet.com/leonid5/m9hu723ub16gk8ny/wish/2221732876