1. To say that someone needs a good is to suggest that he cannot choose to do without the good or buy a substitute for it. We are more likely to be mindful of the fact that almost all goods have substitutes if we speak of wants rather than needs 2. Even though we cannot actually

1. Producer Theory 1. Technology yi =input of good i, y =output of good i, i= yi-yi=net output, y yn) is a production plan Production possibility set Y=technologically feasible production plans yE Rn) y E Y is technologically efficient if there is no yE Y s.t. y>y

I. Preparation Warm-up Activities 1. Pair Work: Talk with your neighbor about someone you love most. Words you may refer to: considerate patient a great helper generous housework hard-working point out one's mistakes a good cook encouraging tender honest gentle respectable easy to get along with a good listener kind caring

What Is a Good Paragraph Gold, a precious metal, is prized for two important characteristics. First of all, gold has a lustrous beauty that is resistant to corrosion. Therefore it is suitable for jewelry, coins, and ornamental purposes. Gold never needs to be polished and will remain beautiful forever. For example, a Macedonian coin remains as untarnished today as the day it was made twenty-three centuries ago. Another important characteristic of gold is its usefulness to industry and science. For many years, it has been used in hundreds of

There are many contexts in which a variable is ordinal that have three or more Ordinal logistic Some typical examples are health status Regression ery good, good, So-So, bad, very bad) political ideology(very liberal, slightly iberal, moderate, slightly conservative very conservative), fertility intention(the

Structure Definition When to provide a public good Efficient provision Private provision: free-riding Variable quantities of public good -Efficient amount Free-riding problem How to provide public goods? Demand revelation

Importance of Good Communication o Good communication allows a firm to a Learn new skills and technologies a Become more responsive to customers Improve quality of their product or service Foster innovation eFfective communication is needed by all Managers Irwin/McGraw-Hill

Final exam Very good performance overall Essays were particularly good ·Mean-88.5%0 Standard deviation -5.7%

Questions: what can -do or cannot-do of a von Neumann machine Good at Not so good at Fast arithmetic Interacting with noisy data or data from the environment Doing precisely what the Massive parallelism programmer programs them to do Fault tolerance

Consumers make choices over bundles of goods. Consumer theory models the way in which these choices are made. A good is simply a product — such as apples or bananas. A good may be specified in terms of time — such as