2022-07-12 20:06:33
Hello,
SHARING SOME OF THE INSIGHTS FROM TODAY'S LECTURE ON ECONOMICS AT THE ACADEMY. Hope it can be used in your main examination.
For the following topics, you can dwell on the keywords mentioned:
1. Behavioral Economics:Nudge, Biases, Default Option, Choices, Gratification, Satisfying, People are not always rational.
2. Demand-Supply:Relatable Goods, Income, Expectation of Future, Taste & Preferences, Government Policies, Cost (Raw Material + Labour), Logistics.
3. Market Failures:Public Good, Externalities, Monopolies & Market Power, Information Asymmetry.
4. Urbanization:Urbanization, Urbanism (quality of life), Urban Systems.
5. Responsibilities of a State:2 Primary Responsibilities - National Security and Justice Delivery
3 Primary Endowments (to bridge inequality) - Health, Education and prevent Market Failures
Social Security (Welfare State)
And you can see
today's philosophical learning here: https://twitter.com/vasujain_vj/status/1546900244809814016?s=20&t=FLLrfaczW96u4Ndf5ckouQ
If you are unable to understand any of the above-mentioned points or keywords, do let me know. I can explain it in the chat or we can discuss it tomorrow in the session.
Cheers and All the Best (y)
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