Economics studies how individuals and societies make choices about scarce resources. It can be divided into microeconomics, which examines individual agents and markets, and macroeconomics, which looks at an economy as a whole. Traditionally, economics was divided into consumption, production, exchange, and distribution. Consumption refers to using goods to satisfy wants, production creates utilities by transforming inputs, exchange transfers goods between parties, and distribution shares wealth among producers. The subject matter of economics involves wants, efforts to satisfy wants through production, and the resulting satisfaction from consumption given scarce resources.
PPT_Unit-1.pptxEconomics unit 1Economics unit 1SkyCook1
Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1
Definition Nature Scope and Significance of Economics, Business Economics - D...Divyansh Agrawal
Definition Nature Scope and Significance of Economics, Wealth Definition, Welfare Definition, Criticism, Scope of Economics, Economics a science or an artScience teaches us to know and an art teaches us to do. Science and art are complementary to each other, A Positive or a Normative Science, Business Economics,Methodology of Economics, Nature of Business Economics, Scope of Business Economics, Divyansh Agrawal, Divyansh Agrawal Shivpuri, PIMR, Prestige Institute of Management, Indore
This is considered to be the basic economics.
Microeconomics may be defined as that branch of economic analysis which studies the economic behavior of the individual unit, may be a person, a particular household, or a particular firm.
It is a study of one particular unit rather than all the units combined together.
Microeconomics is also described as price and value theory, the theory of the household, the firm and the industry. Most production and welfare theories are of the microeconomics variety.
PPT_Unit-1.pptxEconomics unit 1Economics unit 1SkyCook1
Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1Economics unit 1
Definition Nature Scope and Significance of Economics, Business Economics - D...Divyansh Agrawal
Definition Nature Scope and Significance of Economics, Wealth Definition, Welfare Definition, Criticism, Scope of Economics, Economics a science or an artScience teaches us to know and an art teaches us to do. Science and art are complementary to each other, A Positive or a Normative Science, Business Economics,Methodology of Economics, Nature of Business Economics, Scope of Business Economics, Divyansh Agrawal, Divyansh Agrawal Shivpuri, PIMR, Prestige Institute of Management, Indore
This is considered to be the basic economics.
Microeconomics may be defined as that branch of economic analysis which studies the economic behavior of the individual unit, may be a person, a particular household, or a particular firm.
It is a study of one particular unit rather than all the units combined together.
Microeconomics is also described as price and value theory, the theory of the household, the firm and the industry. Most production and welfare theories are of the microeconomics variety.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
2. • Economics- Meaning, Definitions, Subject matter of
economics, Traditional approach- Consumption,
Production, Exchange and Distribution
2
3. • Economics is popularly known as the “Queen of
Social Sciences”.
• It studies economic activities of a man living in a
society.
• Economic activities are those activities which are
concerned with the efficient use of scarce means that
can satisfy the wants of man.
3
4. • After the basic needs viz., food, shelter and clothing have
been satisfied, the priorities shift towards other wants.
• Human wants are unlimited in the sense that as soon as
one want is satisfied another crops up.
• Most of the means for satisfying these wants are limited,
because their supply is less than demand.
• These means have alternative uses; there emerges a
problem of choice.
• Resources being scarce in nature ought to be utilized
productively within the available means to derive
maximum satisfaction.
• The knowledge of economics guides us in making
effective decisions.
4
5. • The subject matter of economics is concerned with
the wants, effort and satisfaction. In other words,
it deals with the decision regarding the
commodities and services to be produced in the
economy, how to produce them most economically
and how to provide for the growth of the economy.
5
6. Subject matter of Economics
• Economics has a subject matter of its own.
• Economics tells how a man utilizes his limited resources for
the satisfaction of unlimited wants.
• Man has limited amount of time and money. He should spend
time and money in such a way that he derives maximum
satisfaction.
• A man wants food, clothing and shelter. To get these things he
must have money.
• For getting money he must make an effort. Effort leads to
satisfaction.
• The wants, efforts and satisfaction sums up the subject
matter of Economics initially in a primitive society where the
connection between wants, effort and satisfaction is direct.
6
7. • The subject matter when examined further reveals the
participation of two different economic agents’ viz.,
consumers and producers in the economic activity.
• Consumers, given their income levels would attempt to
satisfy their wants which have been short listed based on
the degree of urgency from unlimited wants.
• In this process the consumers fulfill the goal of
maximization of satisfaction by consuming the goods and
services that can be purchased given the limitation of
money.
• The other participant in the economic activity are the
producers. They employ all the necessary factors of
production(inputs) and bring out goods required by the
consumers.
7
8. DIVISIONS OF ECONOMICS
• The subject matter of economics can be explained under two
approaches, viz., Traditional approach and Modern approach.
A.Traditional approach
• Traditionally the subject matter of economics can be studied
under four divisions. These are consumption, production,
exchange and distribution
1.Consumption
• It means the use of wealth to satisfy human wants. It also
means the destruction of utility. All the goods that are
produced are consumed immediately or sometime in future.
Through the consumption activity we use utilities, hence
consumption represents using up of utilities.
8
9. 2.Production
• It is an activity that helps to create utility. It simply means the
addition of utilities. Hence production is defined as the
creator of utilities. Through the process of production one set
of goods is transformed into the other. In the production
process inputs or resources are transformed into products.
3.Exchange
• The word exchange of goods implies transfer of goods from
one person to the other. Exchange of goods takes place among
groups of individuals, countries, markets, regions and so on.
4.Distribution
• It refers to the sharing of wealth produced by the community
among the agents of production. Proper distribution of wealth
and resources leads to the growth and economic welfare of the
people in the nation.
9
10. B.Modern Approach
• Modern approach treats microeconomics and macroeconomics
as the two basic divisions of economics.
1.Microeconomics or price theory
• The term a “microeconomics” has been derived from the
Greek word “Micros” meaning small. In other words micro
means a millionth part.
• It is otherwise known as Price theory.
• It focuses on the price determination.
• Microeconomics fundamentally deals with economic
behaviour of individual economic units such as consumers,
resource owners and business firms. Microeconomic covers
theory of consumer behaviour, theory of value (Product
pricing and factor pricing) and the theory of economic
welfare. Microeconomics is somewhat abstract because it
cannot include all the economic activities of real world.
10
11. Macroeconomics or Theory Of Income And Employment
• The term macroeconomics has been derived from the Greek
word “MAKROS” meaning large. Macroeconomics otherwise
is called income theory. It treats the economic system as a
whole rather than treating the individual economic unit of
which it is composed.
• Macroeconomics is concerned with the value of the overall
flow of goods and the value of the overall flow of resources.
Thus it covers the theory of income and employment,
theory of money and prices, banking, theory of economic
growth macro theory of distribution, general equilibrium
analysis, policy formulation and analysis, etc.
11
12. The English term 'Economics' is
derived from the Greek word 'Oikonomia’.
Its meaning is 'household management’.
Economics was first read in ancient Greece.
Aristotle, the Greek Philosopher
termed Economics as a science of
'household management'.
13. Definition AUTHOR Year Book
Wealth Adam smith 1776 Wealth of Nations
Welfare Alfred Marshall 1890 Principles of Economics
Scarcity Lionel Charles
Robbins
1932 An Essay in the nature and
significance of Economic Science
Growth and
Development
Paul Samuelson 1970 Foundations of Economic Analysis
14. Wealth definition
''The Father of Economics''
Adam smith
defined economics
as an enquiry into
nature and causes
of wealth of nation
17. Growth and development Definition
• “Economics is the study of how
men and society choose, with or
without the use of money, to
employ scarce productive resources
which could have alternative uses,
to produce various commodities
over time and distribute them for
consumption now and in the future
amongst various people and groups
of society”