NOTE
Everybody Loves Economics
English translation of the original VNote “Everybody Loves Economics”, preserving its structure with only necessary small corrections.
This is a historical learning note and may contain outdated or incomplete understanding.
Note: This preserves the original VNote structure and wording as much as possible. Only clear errors or statistical/institutional definitions that have changed are corrected.
Supply and Demand
Price mechanism
Consumer Theory
Diminishing marginal utility
Firm Theory
Diminishing marginal product
Competition and Monopoly
Perfect competition: focus on how much to produce; firms do not determine the market price. Monopoly. Oligopoly: similar to perfect competition in some respects.
GDP
Aggregate Demand
When the economy is weak, firms reduce bank borrowing and production, lay off workers, unemployment rises, consumption falls, and borrowing declines.
Fiscal Policy
Government - consumers - commercial banks - central bank
Money and Banking
Interest rates
Monetary Policy
Unemployment
Inflation
Economic Growth
International Trade
Exchange Rates
Monetary system