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Group Japan - 10 Principles
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Group Japan - 10 Principles

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A powerpoint presentation made by FOS 101 students of UA&P under Mr. Nito

A powerpoint presentation made by FOS 101 students of UA&P under Mr. Nito

Published in: Education, Business, Technology

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  • 1. principle 1 people face tradeoffs Villamor
  • 2. man has unlimited wants and needs resources are scarce and limited | | | | | | | | | | | | | | | | | | | | Juan wants to buy many things. He has 300 pesos to spend. Php300= 6 burgers Php300= 11 liters Php300= 1 text book If Juan decides to buy the text book he will have to give up the 6 burgers and 11 liters of Coke
  • 3. Principle 2: Opportunity Cost The cost of something is what you give up to get it Zamora
  • 4. 2 choices—A or B (you pick A) Choice A Choice B WHAT YOU GET OPPORTUNITY COST
  • 5. { Rational People Think At The Margin Principle # 3 Villanueva
  • 6. Calaranan
  • 7. Calaranan
  • 8. Principle 6 Markets Are Usually a Good Way to Organize economic Activity Reyes
  • 9. { Governments Can Sometimes Improve Market Outcomes Principle # 7 Villanueva
  • 10. Principle 8: A Country’s Standard of Living Depends on its Ability to Produce Goods and Services Productivity: the quantity of goods and services produced from each hour of a worker’s time Zamora
  • 11. More goods and services produced per hour of working time Higher the overall income of the country (so more needs can be provided for) Better standard of living for people
  • 12. Principle 9 Prices Rise When the Government Prints too much Money Joseph
  • 13. principle 10 Society faces a short-run tradeoff between inflation and unemployment Villamor
  • 14. increase in employment more money to spend increase in demand increase in pricesincrease in spending less money to spend decrease in spending decrease in employment decrease in demand decrease in prices