- Microeconomics is the study of individual units in an economy such as consumers and producers. It examines how scarce resources are allocated among competing ends.
- An economy is a system by which people obtain their living. There are three main types of economies: capitalist/market economies where production is privately owned, socialist/planned economies where production is centrally planned by the government, and mixed economies that have aspects of both.
- In a market economy, private individuals own resources and means of production, while in a planned economy the government owns and controls production. The key economic problem arises from scarcity of resources relative to unlimited wants, forcing choices between alternative uses of limited resources.
Supply Demand and Equilibrium..
Market Exchange..
Law of Supply...
Law of Demand...
Laws of supply and demand versus the âtheory of supply and demandâ
Laws vs. Theory of Supply and Demand..
Different types of demand..
Market Supply ..
Demand Curve..
Supply Curve..
Market Equilibrium..
Elasticity..
Own price elasticity of demand..
Supply Demand and Equilibrium..
Market Exchange..
Law of Supply...
Law of Demand...
Laws of supply and demand versus the âtheory of supply and demandâ
Laws vs. Theory of Supply and Demand..
Different types of demand..
Market Supply ..
Demand Curve..
Supply Curve..
Market Equilibrium..
Elasticity..
Own price elasticity of demand..
Comparative Economic Systems - Intro to Capitalism. Read about the Capitalism, its advantages and disadvantages. You will find it helpful in your studies. Don't forget to like and follow.
Economics assignment help guide service in macro economics and micro economicsMaria Jones
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Economics is the study of various aspects that impact the market at micro level or macro level like production of goods and services along with their distribution and consumption.
Lecture slides for Economics (Social Studies/Araling Panlipunan) Gr. 9 & 10 following the basic competencies of the K to 12 curriculum in the Philippines.
Introduction To Microeconomics - Class 12AnjaliKaur3
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This PPT describes the introduction of microeconomics as a branch of economics. It will be really helpful for class 12 students preparing for their board exam and also for teachers to use it as a teaching aid.
Comparative Economic Systems - Intro to Capitalism. Read about the Capitalism, its advantages and disadvantages. You will find it helpful in your studies. Don't forget to like and follow.
Economics assignment help guide service in macro economics and micro economicsMaria Jones
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Economics is the study of various aspects that impact the market at micro level or macro level like production of goods and services along with their distribution and consumption.
Lecture slides for Economics (Social Studies/Araling Panlipunan) Gr. 9 & 10 following the basic competencies of the K to 12 curriculum in the Philippines.
Introduction To Microeconomics - Class 12AnjaliKaur3
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This PPT describes the introduction of microeconomics as a branch of economics. It will be really helpful for class 12 students preparing for their board exam and also for teachers to use it as a teaching aid.
𫱠This file is especially for engineering students.
This is 'economics for engineers'.
I hope it will help you in your studies as well as university exams.đ
Forecasting is the process of making statements about events whose actual outcomes have not yet been observed.
Example might be estimation of some variable of interest at some specified future date.
Prediction is a similar, but more general term. The data must be up to date in order for the forecast to be as accurate as possible
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IN THIS PRESENTATION I TELL YOU 29 FREE WEBSITE BUILDERS FOR WEB DESIGNERS & DEVELOPERS IN 2018.IN THIS PRESENTATION I ALSO EMBEDDED YOUTUBE VIDEO. SO KEEP WATCHING THIS VIDEO
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Crack Movavi suite & editor 17.5.0 100% Remove WatermarkAmiteshYadav7
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In This Powerpoint I tell You how to crack Movavi Suite & Editor 17.5.0 100% Remove Watermark 100% Work
Subscribe my Channel:https://www.youtube.com/channel/UCZTpJMuRQrvADgJI2WdZJ_w
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
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.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
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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.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
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Francesca Gottschalk from the OECDâs Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
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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 wasnât 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.
Operation âBlue Starâ is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Palestine last event orientationfvgnh .pptxRaedMohamed3
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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.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
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Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
⢠The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
⢠The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate âany matterâ at âany timeâ under House Rule X.
⢠The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
5. MARKET ECONOMY
⢠It is an economic system, in which all
material means of production are
owned and operated by the private
with profit motive
6. PLANNED ECONOMY
⢠In this economy all material means of
production are owned by the government
or by a centrally planned authority. All
important decisions regarding production,
exchange and distributions, consumptions
of goods and services are made by the
government or by a centrally planned
authority
7. ECONOMIC PROBLEM
⢠âAn economic problem is basically
the problem of choiceâ which arises
due to scarcity of resources having
alternative uses.
9. BASIC (CENTRAL)
ECONOMIC PROBLEMS
Allocation of resources
⢠What to produce?
⢠How to produce?
⢠For whom to produce
⢠ii). Efficient Utilization of resources
⢠iii.) Growth of resources
10. PRODUCTION POSSIBILITY
CURVE/Frontier (PPC) or(PPF)
⢠PP curve shows all the possible
combination of two goods that can be
produced with the help of available
resources and technology.
11. MARGINAL OPPORTUNITY
COST
⢠MOC of a particular good along PPC is
the amount of other good which is
sacrificed for production of additional
unit of another good.
12. MARGINAL RATE OF
TRANSFORMATION
⢠MRT is the ratio of units of one good
⢠sacrificed to produce one more unit of
other good.
⢠MRT =Unit of one good sacrificed Îy
/More unit of other good produced Îx
13. SCARCITY OF RESOURCES
⢠Scarcity of resources means shortage
of resources in relation to their
demand.
17. Production Possibility Curve
And Opportunity Cost⢠It refers to a curve which shows the various
production possibilities that can be produced
with given resources and technology.
⢠If the economy devotes all its resources to
the production of commodity B, it can
produce 15 units but then the production of
commodity A will be zero. There can be a
number of production possibilities of
commodity A & B.
⢠If we want to produce more commodity B,
we have to reduce the output of commodity A
19. Shape of PP curve and
marginal opportunity cost
⢠PP curve is a downward sloping curve.
⢠In a full employment economy, more of
one goods can be obtained only by giving
up the production of other goods. It is not
possible to increase the production of both
of them with the given resources
20. Shape of PP curve and
marginal opportunity cost
⢠The shape of the production possibility
curve is concave to the origin.
⢠The opportunity cost for a commodity is
the amount of other commodity that has
been foregone in order to produce the first.
⢠The marginal opportunity cost of a
particular good along the PPC is defined
as the amount sacrificed of the other good
per unit increase in the production of the
21. Shift in PP curve
⢠(1) Rightward shift
⢠When there is improvement in
technology.
⢠Increase in resources.
23. Rotation for commodity on the X-
axis
⢠A technological Improvements
⢠Increase in Resources
24. Rotation for Commodity on Y-
axis
⢠Degradation in technology
⢠Decrease In Improvements
25. Distinguish between a centrally
planned economy and a market
economy
SN
o
Planned Economy Market Economy
1 All the materials means of
production
are owned by government
All the materials means of
production
are owned by private individuals
2 Main objectives of production is
social
welfare
Main objectives of production are
maximization of profit
3 Ownership of property is under
government control
There is no limit to private
ownership
of property
26. Distinguish between micro
economics and macroeconomics
Micro economics Macro economics
It studies individual economic unit. It studies aggregate economic unit
It deals with determination of price
and
output in individual markets
It deals with determination of general
price level and output in the economy.
Its central problems are price
determination and allocation of
resources.
Its central problem is determination
of level of Income and employment
in the economy.
Tools-Demand and supply Tools- Aggregate Demand And
Aggregate Supply
Degree-It involves limited degree of
aggregation
It involves highest degree of
aggregation
E.g., Individual Income ,Individual
Output
E.g., National Income, National
Output