Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
P. 1
Eficiencia y Equidad - Capt 5 - Economia

Eficiencia y Equidad - Capt 5 - Economia

Ratings: (0)|Views: 187 |Likes:
Published by Carlos Soto Santoni
Chapter 5 - Economics 8/e - Michael Parkin
Chapter 5 - Economics 8/e - Michael Parkin

More info:

Published by: Carlos Soto Santoni on Nov 26, 2009
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

10/01/2012

pdf

text

original

 
Efficiency and Equity
CHAPTER
5
 
After studying this chapter you will be able to
 
Describe the alternative methods of allocating scarceresources
Explain the connection between demand and marginalbenefit and define consumer surplus
Explain the connection between supply and marginalcost and define producer surplus
Explain the conditions under which markets moveresources to their highest-value uses and the sourcesof inefficiency in our economy
Explain the main ideas about fairness and evaluateclaims that markets result in unfair outcomes
 
Self-Interest and Social Interest
When you buy a pair of shoes or a textbook or fill your gastank, or even just take a shower, you express your viewabout how scarce resources should be used.You make choices that are in your self-interest.Markets coordinate your choices with those of everyoneelse.Do markets do a good job?Do they enable our self-interest choices to be in the socialinterest?And do markets produce a fair outcome?

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->