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Economic Patterns

• Goods
  • Human Action
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  • Value
  • Incentives
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  • Trade-offs... Pain v Gain
  • Marginal Costs & Benefits
  • Markets... Normally Good
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  • Price Discrimination
  • The AGENCY Problem
  • Asymmetric Information - Lemon Cars
  • Tragedy of the Commons
  • Law Diminishing Returns - A Size Issue
  • Unintended Consequences
  • Switching Costs
  • Transaction Costs
  • Positive & Negative Externalities
  • Sunk Costs - Forget the Past
  • Diminishing Utility
  • Public & Private Goods