principle 1
people face tradeoffs
Villamor
man has
unlimited
wants and
needs
resources
are scarce
and
limited
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Juan wants to b...
Principle 2: Opportunity Cost
The cost of something is what you
give up to get it
Zamora
2 choices—A or B
(you pick A)
Choice A Choice B
WHAT YOU
GET
OPPORTUNITY
COST
{
Rational People
Think At The Margin
Principle # 3
Villanueva
Calaranan
Calaranan
Principle 6
Markets Are Usually a Good Way to
Organize economic Activity
Reyes
{
Governments Can
Sometimes Improve
Market Outcomes
Principle # 7
Villanueva
Principle 8: A Country’s Standard of Living Depends on
its Ability to Produce Goods and Services
Productivity: the quantit...
More goods and services
produced per hour of working
time
Higher the overall income of
the country (so more needs
can be p...
Principle 9
Prices Rise When the Government
Prints too much Money
Joseph
principle 10
Society faces a short-run
tradeoff between inflation
and unemployment
Villamor
increase
in
employment
more
money to
spend
increase
in
demand
increase
in pricesincrease
in
spending
less
money to
spend
d...
Group Japan - 10 Principles
Group Japan - 10 Principles
Group Japan - 10 Principles
Group Japan - 10 Principles
Group Japan - 10 Principles
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

Published in: Education, Business, Technology
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Group Japan - 10 Principles

  1. 1. principle 1 people face tradeoffs Villamor
  2. 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. 3. Principle 2: Opportunity Cost The cost of something is what you give up to get it Zamora
  4. 4. 2 choices—A or B (you pick A) Choice A Choice B WHAT YOU GET OPPORTUNITY COST
  5. 5. { Rational People Think At The Margin Principle # 3 Villanueva
  6. 6. Calaranan
  7. 7. Calaranan
  8. 8. Principle 6 Markets Are Usually a Good Way to Organize economic Activity Reyes
  9. 9. { Governments Can Sometimes Improve Market Outcomes Principle # 7 Villanueva
  10. 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. 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. 12. Principle 9 Prices Rise When the Government Prints too much Money Joseph
  13. 13. principle 10 Society faces a short-run tradeoff between inflation and unemployment Villamor
  14. 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

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