i understand basic economics - elastic/inelastic, supply&demand, inflation/deflation, economic cycles, etc. i know how a CLOSED economy works (i.e. i can easily model an economy. thats a weird phrase that seems to mean more than what i was told it means). i understand the BASICS. but i am a poli-sci major, not a econ major, and this class assumes about 10 econ classes i haven't had (i've had only two, and they were both introductory). so, in answering what i thought was a small and kinda silly question, you actually managed to explain a large part of what it was assumed that i know, that i don't actually know - and explain it so that i GET it, which is even more amazing, considering everything.
no subject
i understand basic economics - elastic/inelastic, supply&demand, inflation/deflation, economic cycles, etc. i know how a CLOSED economy works (i.e. i can easily model an economy. thats a weird phrase that seems to mean more than what i was told it means). i understand the BASICS. but i am a poli-sci major, not a econ major, and this class assumes about 10 econ classes i haven't had (i've had only two, and they were both introductory). so, in answering what i thought was a small and kinda silly question, you actually managed to explain a large part of what it was assumed that i know, that i don't actually know - and explain it so that i GET it, which is even more amazing, considering everything.
i HEART you.