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ADAM SMITH
USE OF SCARCE RESOURCES TO
FULLFILL WANTS AND NEEDS
REAL WORLD SITUATION
LIMITED RESOURCES
STRUCTURE, PERFORMANCE
AND BEHAVIOR OF ENTIRE
ECONOMY
INDIVIDUAL HOUSEHOLD
OF FIRMS
A. MACROECONOMICS
B. MICROECONOMICS
C. NORMATIVE ECONOMICS
D. POSTITIVE ECONOMICS
A. MACROECONOMICS
B. MICROECONOMICS
C. NORMATIVE ECONOMICS
D. POSTITIVE ECONOMICS
LAND- Natural Resources
LABOR- Physical and Intellectual
CAPITAL- Money
ENTREPRENEURSHIP- Skills to
build a firm
A. CAPITAL
B. GOODS
C. LABOR
D. LAND
A. CAPITAL
B. GOODS
C. LABOR
D. LAND
PRODUCTION OF COUNTRY
RESIDENT’S
PRODUCED IN A COUNTRY
A. AGRICULTURE
B. INDUSTRIAL
C. PUBLIC
D. SERVICES
A. AGRICULTURE
B. INDUSTRIAL
C. PUBLIC
D. SERVICES
A. Boss mentality
B. Blue collar mania
C. White collar mania
D. Technocrat mind
A. Boss mentality
B. Blue collar mania
C. White collar mania
D. Technocrat mind
WILLINGNESS TO BUY
WILLINGNESS TO PRODUCE
A. CONSUMER; BUY
B. CONSUMER; SELL
C. SUPPLIERS; SELL
D. SUPPLIERS; BUY
A. CONSUMER; BUY
B. CONSUMER; SELL
C. SUPPLIERS; SELL
D. SUPPLIERS; BUY
IMPOSES FINANCIAL BURDEN
UPON PERSONS AND PROPERTY
A. RAISE REVENUE FOR THE SUPPORT OF THE
GOVERNMENT
B. REDUCE INEQUALITIES IN WEALTH AND
INCOMES
C. FORTIFY THE GOVERNMENT AGAINST INVADERS
D. MAKE THE COUNTRY A LEADING
INDUSTRIALIZED COUNTRY IN THE WORLD
A. RAISE REVENUE FOR THE SUPPORT OF THE
GOVERNMENT
B. REDUCE INEQUALITIES IN WEALTH AND
INCOMES
C. FORTIFY THE GOVERNMENT AGAINST INVADERS
D. MAKE THE COUNTRY A LEADING
INDUSTRIALIZED COUNTRY IN THE WORLD
FORCE LABOR
EXEMPTED FROM POLO Y SERVICIO
RESIDENCE CERTIFICATE
EXCHANGE OF GOODS
INVOLVES MONEY
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high
ECONOMICS REVIEW.pptx presentation senior high

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ECONOMICS REVIEW.pptx presentation senior high

Editor's Notes

  1. THE STUDY OF HOW INDIVIDUALS AND SOCIETIES MAKE DECISIONS ABOUT WAYS TO USE
  2. APPLYING GENERAL PRINCIPLES TO SOLVE DEFINITE PROBLEMS. APPLICATION OF ECONOMICS IN RELATION TO
  3. BECAUSE ALL RESOURCES, GOODS, AND SERVICES ARE LIMITED – WE MUST MAKE CHOICES!!!!
  4. MACRO MEANS LARGE . IT IS THE STUDIES
  5. MICRO ON THE OTHER HAND MEANS “ SMALL” THERFORE, STUDIES THE ECONOMIC ACTIVITIES OF
  6. SERVICE SECTOR CONTRIBUTE ABOUT 55 IDUSTRIAL 30 AGRICULTURE 15 TO THE COUNTRY’S GNP
  7. W- MENTAL ABILITIES BASED ON THE PROFESSION LIKE DOCTORS, LAWYER, ENGENIEER OFFICE WORK B- THEY USED THEIR LABOR FORCE LIKE CARPENTERS, COSTRUCTION WORKERS, MAGSASAKA
  8. LAW OF DEMAND INVERSE RELATIONSHIP
  9. LAW OF SUPPLY DIRECT RELATIONSHIP
  10. IT IS THE INHERENT POWER BY WHICH THE SOVEREIGN STATE /IMPOSES FINANCIAL BURDEN UPON PERSONS AND PROPERTY AS A MEANS OF RAISING REVENUES IN ORDER TO DEFRAY THE NECESSARY EXPENSES OF THE GOVERNMENT
  11. ALL CASES INVOLVING THE LEGALITY OF ANY TAXIS STATED IN ARTCILE VIII SECTION 5
  12. IS THE FORCED LABOR FOR 40 DAYS, OF MEN RANGING FROM 16 TO 60 YEARS OF AGE WHO WERE OBLIGATED TO GIVE PERSONAL SERVICES TO COMMUNITY PROJECTS.
  13. ONE COULD BE EXEMPTED FROM THE POLO BY PAYING A FEE CALLED FALLA
  14. THE PAYMENT OF THIS TAX WOULD MERIT THE ISSUE OF A RESIDENCE CERTIFICATE.