Introduction to economics

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An Economy ,[object Object]

3 Major Functions

Utilizing goods & services in order to get satisfaction. (UTILITY) Process of converting resources into goods & services. (PRODUCTION PROCESS)

[object Object],Productivity = Output Input

Differences between economic goods & non-economic goods (free goods)

Classification of Economic Goods according to their usage

2 Alternative solutions to solve the problem of SCARCITY

[object Object],[object Object]

The opportunity cost refers to the next best alternative

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Population age above TEN 20 M Students 3 M House Wives 2 M Religious Leaders 1 M Disable Soldiers 4 M (10) 10 M

Labour Force

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Introduction to economics

1.

2.

3. 3 Major Functions

4. Utilizing goods & services in order to get satisfaction. (UTILITY) Process of converting resources into goods & services. (PRODUCTION PROCESS)

5.

6.

7.

8.

9.

10. Differences between economic goods & non-economic goods (free goods)

11.

12.

13. Classification of Economic Goods according to their usage

14.

15.

16.

17.

18.

19. 2 Alternative solutions to solve the problem of SCARCITY

20.

21.

22. The opportunity cost refers to the next best alternative

23.

24.

25. Population age above TEN 20 M Students 3 M House Wives 2 M Religious Leaders 1 M Disable Soldiers 4 M (10) 10 M

26. Labour Force

27.

28.

29.

30.