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COMMAND AND CONTROL: A term frequently used when referring to government regulation of pollution emissions. This is where the government imposes regulations on polluters through the use of licenses, permits, zoning regulations, registration, and other controls. It should be contrasted with other methods of pollution control, especially Pigouvian tax, pollution rights market, Coase theorem, and recycling.
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Lesson Contents
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Unit 1: Economics |
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Unit 2: Doing Economics |
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Unit 3: The Economy |
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Unit 4: Economic Goals |
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Unit 5: Economic Policies | |
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Economic Basics
Being the very first lesson in this course, this provides an introduction and overview of economics. You'll come across a lot of basic concepts and terms. The full importance of these may not become apparent until later lessons, but they will be important. The five units making up this lesson set the stage for the further study of economics. - The first unit offers up a basic definition and provides two useful lists -- the three questions of allocation and the seven rules of economics.
- The second unit then explores the practice of economics, including positive and normative economics, macroeconomics and microeconomics, and six common logical fallacies.
- In the third unit, we turn our attention to the economy, especially how real world economies contain a mix of markets and governments.
- We then examine the five basic goals of a mixed economy in the fourth unit, include the three macro goals of full employment, stability, and growth; and the two micro goals of efficiency and equity.
- The fifth and final unit in this lesson considers assorted economic policies that governments use to achieve the five economic goals.
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L A broad monetary measure that combines M3 plus several liquid assets, including commercial paper, U.S. Treasury bills, savings bonds, and bankers' acceptances. L used to be tracked and reported by the Federal Reserve System along with M1, M2, and M3. However, L is no longer reported.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"If football taught me anything about business, it is that you win the game one play at a time." -- Fran Tarkenton, Football Player
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ATS
Automatic Transfer Service
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