Section 1 definitions
•Download as PPTX, PDF•
0 likes•693 views
This document defines key concepts in microeconomics and macroeconomics. Microeconomics is the study of individual markets, while macroeconomics looks at the overall economy. Positive economics examines what can be proven right or wrong, whereas normative economics is based on opinion. Scarcity exists because resources are limited but demands are unlimited. The four factors of production are land, labor, capital, and entrepreneurship. Opportunity cost refers to the next best alternative forgone when making an economic decision.
Report
Share
Report
Share
Recommended
Basic economic problem
The main premise of economic problem is that human needs and wants are unlimited but resources are limited in nature. Thus, scarcity of resources which means that in order to produce one good, you have to sacrifice other good.
Economics concepts for grade 11 learners
This document provides an overview of key economic concepts for grade 11 learners. It begins with definitions of economics and microeconomics and macroeconomics. It then covers concepts like scarcity, resources, opportunity costs, and production possibility frontiers. It introduces the circular flow of economic activity and models of income and consumption. It discusses the basic economic problems of what, how, and for whom to produce. Overall, the document provides a comprehensive introduction to foundational economic ideas.
Why study economics 2019
This document introduces economics as a social science that studies human behavior in markets at both micro and macro levels. It then lists several current economic issues and prompts the reader to discuss the reasons for each issue and potential solutions in small groups. Some of the issues highlighted include the wealth divide, the effects of Brexit, policies to curb plastic pollution, and the future of work with artificial intelligence. The document encourages further discussion and learning about economics topics.
Ch 1 intro
This chapter introduces key economic concepts. It defines economics as the study of how societies allocate scarce resources to satisfy unlimited wants. It distinguishes between microeconomics, which studies individual economic units, and macroeconomics, which looks at aggregate outcomes. The chapter covers basic economic problems like what, how, and for whom to produce. It introduces opportunity cost and production possibility frontiers to illustrate scarcity and tradeoffs. It also outlines different economic systems - capitalist, socialist, mixed, and Islamic - and how they approach resource allocation and production.
Scarcity, wants, & needs
The document discusses several economic concepts related to scarcity including unlimited wants and needs, choice, opportunity cost, and production possibility frontier. It explains that while scarcity is permanent, shortages can be temporary when supply does not meet demand. Due to limited resources, societies cannot satisfy all goods and wants so choices must be made about allocating resources.
Basic Problem of an Economy
The document discusses the economic problem of scarcity. It explains that scarcity exists because resources are limited while wants are unlimited. Every economy, regardless of its type, faces scarcity and must decide how to allocate limited resources among competing uses. The document also introduces the production possibilities frontier to illustrate scarcity and opportunity cost. It outlines several problems faced by economies, including what and how much to produce, how to utilize resources fully and efficiently, and how to achieve economic growth.
Economics 1 1
This document provides an overview of the materials and topics that will be covered in Ms. J. Hernandez's Summer Economics class. It includes a list of materials students should bring to each class, as well as materials needed outside of class. The first chapter that will be covered is on the fundamental economic problem of scarcity and the definitions of key economic terms. Students are asked to define terms like scarcity, needs, wants, and TINSTAAFL (there is no such thing as a free lunch). They are also asked questions about the difference between needs and wants and the fundamental economic problem societies face. Subsequent sections will cover factors of production, the circular flow model, productivity and economic growth. Students will learn about concepts like
Slide 1 1mm - the basic economic problem
The basic economic problem is that human wants are unlimited while resources are scarce. This means that societies must make choices about how to allocate scarce resources between alternative uses to best satisfy people's needs and wants. The opportunity cost of a choice is the value of the best alternative forgone, or what is given up by making that choice. Production possibility curves illustrate this problem by showing the tradeoffs involved - producing more of one good requires producing less of another since resources are limited.
Recommended
Basic economic problem
The main premise of economic problem is that human needs and wants are unlimited but resources are limited in nature. Thus, scarcity of resources which means that in order to produce one good, you have to sacrifice other good.
Economics concepts for grade 11 learners
This document provides an overview of key economic concepts for grade 11 learners. It begins with definitions of economics and microeconomics and macroeconomics. It then covers concepts like scarcity, resources, opportunity costs, and production possibility frontiers. It introduces the circular flow of economic activity and models of income and consumption. It discusses the basic economic problems of what, how, and for whom to produce. Overall, the document provides a comprehensive introduction to foundational economic ideas.
Why study economics 2019
This document introduces economics as a social science that studies human behavior in markets at both micro and macro levels. It then lists several current economic issues and prompts the reader to discuss the reasons for each issue and potential solutions in small groups. Some of the issues highlighted include the wealth divide, the effects of Brexit, policies to curb plastic pollution, and the future of work with artificial intelligence. The document encourages further discussion and learning about economics topics.
Ch 1 intro
This chapter introduces key economic concepts. It defines economics as the study of how societies allocate scarce resources to satisfy unlimited wants. It distinguishes between microeconomics, which studies individual economic units, and macroeconomics, which looks at aggregate outcomes. The chapter covers basic economic problems like what, how, and for whom to produce. It introduces opportunity cost and production possibility frontiers to illustrate scarcity and tradeoffs. It also outlines different economic systems - capitalist, socialist, mixed, and Islamic - and how they approach resource allocation and production.
Scarcity, wants, & needs
The document discusses several economic concepts related to scarcity including unlimited wants and needs, choice, opportunity cost, and production possibility frontier. It explains that while scarcity is permanent, shortages can be temporary when supply does not meet demand. Due to limited resources, societies cannot satisfy all goods and wants so choices must be made about allocating resources.
Basic Problem of an Economy
The document discusses the economic problem of scarcity. It explains that scarcity exists because resources are limited while wants are unlimited. Every economy, regardless of its type, faces scarcity and must decide how to allocate limited resources among competing uses. The document also introduces the production possibilities frontier to illustrate scarcity and opportunity cost. It outlines several problems faced by economies, including what and how much to produce, how to utilize resources fully and efficiently, and how to achieve economic growth.
Economics 1 1
This document provides an overview of the materials and topics that will be covered in Ms. J. Hernandez's Summer Economics class. It includes a list of materials students should bring to each class, as well as materials needed outside of class. The first chapter that will be covered is on the fundamental economic problem of scarcity and the definitions of key economic terms. Students are asked to define terms like scarcity, needs, wants, and TINSTAAFL (there is no such thing as a free lunch). They are also asked questions about the difference between needs and wants and the fundamental economic problem societies face. Subsequent sections will cover factors of production, the circular flow model, productivity and economic growth. Students will learn about concepts like
Slide 1 1mm - the basic economic problem
The basic economic problem is that human wants are unlimited while resources are scarce. This means that societies must make choices about how to allocate scarce resources between alternative uses to best satisfy people's needs and wants. The opportunity cost of a choice is the value of the best alternative forgone, or what is given up by making that choice. Production possibility curves illustrate this problem by showing the tradeoffs involved - producing more of one good requires producing less of another since resources are limited.
Scarcity, trade off, opportunity cost
Scarcity means resources are limited so choices must be made about how to use natural resources, workers, and capital. A trade-off is giving up one thing to get another, like spending on education vs defense. Making choices always has an opportunity cost of forgoing other options.
Economic Geography
The document provides an overview of key economic concepts including:
1. It defines the economy as how people use their environment to meet material needs through production, exchange, distribution and consumption of goods and services.
2. It notes the tension between unlimited human needs and limited resources.
3. It states that the world's dominant economic system is capitalism, which is based on private ownership and market competition.
4. Key economic agents in a capitalist system are private individuals/families, private companies, and the public sector/state. Factors of production include land, labor, capital and entrepreneurship.
Basics of economics
This document provides an overview of economics, including microeconomics and macroeconomics. It defines economics as the study of how individuals, markets, and countries seek to maximize satisfaction and profits with limited resources. Microeconomics examines decisions of individuals and businesses regarding prices and resource allocation, while macroeconomics studies whole economies and how government policies affect aggregates like output and inflation. The document also outlines different economic systems, terms, the scope and methodologies of economics, and some basic economic problems around production.
Introduction Microeconomics
- 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.
Case Econ08 Ppt 01
This document provides an overview and introduction to the scope and method of economics. It discusses the following key points in 3 sentences:
Economics is the study of how individuals and societies make choices with scarce resources. The document outlines why economics is studied, including to learn a way of thinking, understand society and global affairs, and be an informed voter. It also describes the scope of economics in terms of microeconomics, macroeconomics, and diverse fields, as well as the method which involves theories, models, and empirical testing of economic concepts.
Case Econ08 Ppt 02
This document provides an overview of key economic concepts related to scarcity and choice. It discusses how scarcity leads to opportunity costs and tradeoffs in both individual and societal decision making. Key models introduced include the production possibility frontier to illustrate scarcity and efficiency and comparative advantage to show how trade allows gains from specialization. Economic systems are explored, including command, market, and mixed systems, with markets emerging as the mechanism for coordinating production and distribution in free market economies.
Revisiting economics as a social science
I made this powerpoint for my class in Applied Economics - Grade 12 ABM. This is Lesson 1
Source: Macalinao, Eloisa M.
Economics chapter 1
Economics studies how individuals and societies make decisions regarding scarce resources. It analyzes human behavior as purposeful and rational, seeking to maximize utility given costs and benefits. Microeconomics examines individual and firm decision-making while macroeconomics analyzes total output, resource allocation, and trade at a national level. The market economic system relies on competitive forces while command systems involve centralized government planning. Individuals and societies must choose how to allocate limited resources to maximize production and promote growth.
Chapter 1 - Econ
This document provides an overview of introductory economics concepts. It defines economics as the study of how people try to satisfy unlimited wants through scarce resources. It discusses the three basic economic questions of what, how, and for whom to produce. The four factors of production are outlined as land, labor, capital, and entrepreneurship. The document also defines needs versus wants, and explains why economics is considered a social science.
Economic goals
The document outlines six main economic goals: economic freedom, economic equity, economic efficiency, economic security, economic stability, and economic growth. It provides definitions and examples for each goal. Economic freedom involves individual choice in work and spending. Economic equity centers on fairness and redistribution. Economic efficiency means fulfilling needs with minimal waste. Economic security protects against risks like illness. Economic stability aims for sustained growth without large fluctuations. Economic growth is a sustained rise in production, as measured by GDP, which improves standards of living.
What is an economy powerpoint
An economy is defined as how a nation uses its limited resources to produce and distribute goods and services. Resources include land, labor, capital, and entrepreneurship. Scarcity means that resources are limited but wants and needs are unlimited, forcing nations to make choices. Nations must answer basic economic questions about what to produce, how to produce it, and who the production is for, defining their economic system. Consumers decide what is produced through market purchases, while businesses aim to produce competitively and encourage customers.
Economics
The document discusses key economic concepts including scarcity, choice, and opportunity cost. It defines microeconomics as the study of individual decisions in markets and macroeconomics as the study of overall prices, employment, income and production. Factors of production include labor, land, capital and entrepreneurship. Markets coordinate economic activity through price adjustments while command economies rely on central planning.
Basic economic concepts
This document outlines some basic economic concepts. It discusses how every society has four factors of production - land, labor, capital, and entrepreneurs - which are used along with resources to produce goods and services. However, resources are limited while human wants are unlimited, creating an economic problem of scarcity. This scarcity means societies must make choices about what goods and services to produce, how to produce them, and who will consume them, establishing an economic system. These choices involve trade-offs and opportunity costs.
Central problems of an economy
Central Problems of an economy studies the relation between scarcity & choice. Every economy deals with three basic problems-What, How & For Whom.
It is a very important topic for students of Economics in class XI-XII CBSE schools. But, it is equally important for anyone to understand how a production activity actually starts.
The ppt outlines the important aspects of the topic.
Solving Basic Economic Problems
The document discusses how the basic economic problems of what to produce, how to produce, and for whom to produce are solved differently in capitalist, socialist, and mixed economies.
In a capitalist economy, the price mechanism determines solutions through market forces of supply and demand. In a socialist economy, a central planning authority makes production and distribution decisions. In a mixed economy, the price mechanism and private sector interact with government intervention through fiscal and monetary policies to influence economic outcomes.
Microeconomics 101
This document provides an overview of microeconomics. It defines economics as the study of how societies allocate scarce resources to produce and distribute goods and services. The document outlines different types of economic systems and explains that most modern economies are mixed, with roles for both markets and governments. It also summarizes key microeconomic concepts like supply and demand, market equilibrium, and the role of prices in signaling resource allocation.
Basic Economic Questions
The document discusses the basic economic questions that all systems must answer: 1) What goods and services will be produced? 2) How will they be produced? 3) Who will get the goods and services? It focuses on how a market system answers these questions. A market system relies on private property, competition, and markets to determine: 1) What is produced based on supply and demand. 2) Production uses the least-cost combination of inputs. 3) Goods go to those able and willing to pay for them by exchanging valuable labor or assets.
Review Of Basic Microeconomics
The circular flow diagram shows the flow of money between households and firms through input and output markets. Firms purchase inputs from households and sell outputs to households. Households purchase goods and services from firms using income received from supplying inputs.
Elasticity measures the responsiveness of quantity demanded or supplied to a change in its price. Elastic demand means quantity demanded changes proportionally more than a price change. Inelastic demand means quantity demanded changes less than proportionally to a price change.
Consumer choice is based on utility maximization subject to a budget constraint. Indifference curves illustrate combinations of goods that provide equal utility. Utility maximizes where the highest indifference curve is tangent to the budget constraint.
Economic goals
This document outlines and compares three main economic systems - market, command, and tradition - across seven economic goals: economic freedom, economic efficiency, economic equity, economic security, full employment, price stability, and economic growth. It notes that no country has a pure system and that governments must intervene to correct faults in a purely capitalistic market system. Students are then assigned to analyze how changes in one economic goal would affect other goals and to identify the two most important goals for them and which system best accomplishes those goals.
Micro economics introduction
Microeconomics analyzes the decisions made by individuals and firms, and how those decisions are influenced by costs and benefits. It considers how individuals maximize utility and firms maximize profits. Microeconomics specifically examines how prices are determined through this optimizing behavior. It is essential for understanding the total economic system and can help solve economic problems by informing decisions about economic policy. Microeconomics has some limitations as it only studies parts of the economy and specific problems. This introduction to microeconomics will cover basic concepts like demand, costs of production, market structures, and how individuals, governments, and businesses interact in the economy.
1.what is economics
This chapter introduces economics and key concepts like scarcity, trade-offs, and opportunity costs. It discusses how economists use models to study the real world. The main points are:
1) Economics involves making choices because resources are scarce and wants exceed what's available. The four factors of production are land, labor, capital, and entrepreneurship.
2) Trade-offs require sacrificing one thing for another and create opportunity costs, like the value of the next best alternative given up. Production possibilities curves illustrate the maximum amounts of two items an economy can produce.
3) Economists use models as simplified representations to explain behavior. Microeconomics examines individuals and firms while macroeconomics looks at whole economies
Assignment 1
This document discusses key concepts of a free market economy including supply and demand, economic equilibrium, and spontaneous order. It analyzes how a free market allocates resources efficiently through market forces and price mechanisms without government intervention. The document also addresses three basic economic decisions that every society must make: what goods and services to produce and in what quantities, how to produce them, and who gets them. It explains how Nigeria answers these questions, with both government and private sectors determining production and market forces allocating based on demand. Natural resources like petroleum influence Nigeria's economy, with production, agriculture, and informal sector accounting for most economic activity.
More Related Content
What's hot
Scarcity, trade off, opportunity cost
Scarcity means resources are limited so choices must be made about how to use natural resources, workers, and capital. A trade-off is giving up one thing to get another, like spending on education vs defense. Making choices always has an opportunity cost of forgoing other options.
Economic Geography
The document provides an overview of key economic concepts including:
1. It defines the economy as how people use their environment to meet material needs through production, exchange, distribution and consumption of goods and services.
2. It notes the tension between unlimited human needs and limited resources.
3. It states that the world's dominant economic system is capitalism, which is based on private ownership and market competition.
4. Key economic agents in a capitalist system are private individuals/families, private companies, and the public sector/state. Factors of production include land, labor, capital and entrepreneurship.
Basics of economics
This document provides an overview of economics, including microeconomics and macroeconomics. It defines economics as the study of how individuals, markets, and countries seek to maximize satisfaction and profits with limited resources. Microeconomics examines decisions of individuals and businesses regarding prices and resource allocation, while macroeconomics studies whole economies and how government policies affect aggregates like output and inflation. The document also outlines different economic systems, terms, the scope and methodologies of economics, and some basic economic problems around production.
Introduction Microeconomics
- 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.
Case Econ08 Ppt 01
This document provides an overview and introduction to the scope and method of economics. It discusses the following key points in 3 sentences:
Economics is the study of how individuals and societies make choices with scarce resources. The document outlines why economics is studied, including to learn a way of thinking, understand society and global affairs, and be an informed voter. It also describes the scope of economics in terms of microeconomics, macroeconomics, and diverse fields, as well as the method which involves theories, models, and empirical testing of economic concepts.
Case Econ08 Ppt 02
This document provides an overview of key economic concepts related to scarcity and choice. It discusses how scarcity leads to opportunity costs and tradeoffs in both individual and societal decision making. Key models introduced include the production possibility frontier to illustrate scarcity and efficiency and comparative advantage to show how trade allows gains from specialization. Economic systems are explored, including command, market, and mixed systems, with markets emerging as the mechanism for coordinating production and distribution in free market economies.
Revisiting economics as a social science
I made this powerpoint for my class in Applied Economics - Grade 12 ABM. This is Lesson 1
Source: Macalinao, Eloisa M.
Economics chapter 1
Economics studies how individuals and societies make decisions regarding scarce resources. It analyzes human behavior as purposeful and rational, seeking to maximize utility given costs and benefits. Microeconomics examines individual and firm decision-making while macroeconomics analyzes total output, resource allocation, and trade at a national level. The market economic system relies on competitive forces while command systems involve centralized government planning. Individuals and societies must choose how to allocate limited resources to maximize production and promote growth.
Chapter 1 - Econ
This document provides an overview of introductory economics concepts. It defines economics as the study of how people try to satisfy unlimited wants through scarce resources. It discusses the three basic economic questions of what, how, and for whom to produce. The four factors of production are outlined as land, labor, capital, and entrepreneurship. The document also defines needs versus wants, and explains why economics is considered a social science.
Economic goals
The document outlines six main economic goals: economic freedom, economic equity, economic efficiency, economic security, economic stability, and economic growth. It provides definitions and examples for each goal. Economic freedom involves individual choice in work and spending. Economic equity centers on fairness and redistribution. Economic efficiency means fulfilling needs with minimal waste. Economic security protects against risks like illness. Economic stability aims for sustained growth without large fluctuations. Economic growth is a sustained rise in production, as measured by GDP, which improves standards of living.
What is an economy powerpoint
An economy is defined as how a nation uses its limited resources to produce and distribute goods and services. Resources include land, labor, capital, and entrepreneurship. Scarcity means that resources are limited but wants and needs are unlimited, forcing nations to make choices. Nations must answer basic economic questions about what to produce, how to produce it, and who the production is for, defining their economic system. Consumers decide what is produced through market purchases, while businesses aim to produce competitively and encourage customers.
Economics
The document discusses key economic concepts including scarcity, choice, and opportunity cost. It defines microeconomics as the study of individual decisions in markets and macroeconomics as the study of overall prices, employment, income and production. Factors of production include labor, land, capital and entrepreneurship. Markets coordinate economic activity through price adjustments while command economies rely on central planning.
Basic economic concepts
This document outlines some basic economic concepts. It discusses how every society has four factors of production - land, labor, capital, and entrepreneurs - which are used along with resources to produce goods and services. However, resources are limited while human wants are unlimited, creating an economic problem of scarcity. This scarcity means societies must make choices about what goods and services to produce, how to produce them, and who will consume them, establishing an economic system. These choices involve trade-offs and opportunity costs.
Central problems of an economy
Central Problems of an economy studies the relation between scarcity & choice. Every economy deals with three basic problems-What, How & For Whom.
It is a very important topic for students of Economics in class XI-XII CBSE schools. But, it is equally important for anyone to understand how a production activity actually starts.
The ppt outlines the important aspects of the topic.
Solving Basic Economic Problems
The document discusses how the basic economic problems of what to produce, how to produce, and for whom to produce are solved differently in capitalist, socialist, and mixed economies.
In a capitalist economy, the price mechanism determines solutions through market forces of supply and demand. In a socialist economy, a central planning authority makes production and distribution decisions. In a mixed economy, the price mechanism and private sector interact with government intervention through fiscal and monetary policies to influence economic outcomes.
Microeconomics 101
This document provides an overview of microeconomics. It defines economics as the study of how societies allocate scarce resources to produce and distribute goods and services. The document outlines different types of economic systems and explains that most modern economies are mixed, with roles for both markets and governments. It also summarizes key microeconomic concepts like supply and demand, market equilibrium, and the role of prices in signaling resource allocation.
Basic Economic Questions
The document discusses the basic economic questions that all systems must answer: 1) What goods and services will be produced? 2) How will they be produced? 3) Who will get the goods and services? It focuses on how a market system answers these questions. A market system relies on private property, competition, and markets to determine: 1) What is produced based on supply and demand. 2) Production uses the least-cost combination of inputs. 3) Goods go to those able and willing to pay for them by exchanging valuable labor or assets.
Review Of Basic Microeconomics
The circular flow diagram shows the flow of money between households and firms through input and output markets. Firms purchase inputs from households and sell outputs to households. Households purchase goods and services from firms using income received from supplying inputs.
Elasticity measures the responsiveness of quantity demanded or supplied to a change in its price. Elastic demand means quantity demanded changes proportionally more than a price change. Inelastic demand means quantity demanded changes less than proportionally to a price change.
Consumer choice is based on utility maximization subject to a budget constraint. Indifference curves illustrate combinations of goods that provide equal utility. Utility maximizes where the highest indifference curve is tangent to the budget constraint.
Economic goals
This document outlines and compares three main economic systems - market, command, and tradition - across seven economic goals: economic freedom, economic efficiency, economic equity, economic security, full employment, price stability, and economic growth. It notes that no country has a pure system and that governments must intervene to correct faults in a purely capitalistic market system. Students are then assigned to analyze how changes in one economic goal would affect other goals and to identify the two most important goals for them and which system best accomplishes those goals.
Micro economics introduction
Microeconomics analyzes the decisions made by individuals and firms, and how those decisions are influenced by costs and benefits. It considers how individuals maximize utility and firms maximize profits. Microeconomics specifically examines how prices are determined through this optimizing behavior. It is essential for understanding the total economic system and can help solve economic problems by informing decisions about economic policy. Microeconomics has some limitations as it only studies parts of the economy and specific problems. This introduction to microeconomics will cover basic concepts like demand, costs of production, market structures, and how individuals, governments, and businesses interact in the economy.
What's hot (20)
Similar to Section 1 definitions
1.what is economics
This chapter introduces economics and key concepts like scarcity, trade-offs, and opportunity costs. It discusses how economists use models to study the real world. The main points are:
1) Economics involves making choices because resources are scarce and wants exceed what's available. The four factors of production are land, labor, capital, and entrepreneurship.
2) Trade-offs require sacrificing one thing for another and create opportunity costs, like the value of the next best alternative given up. Production possibilities curves illustrate the maximum amounts of two items an economy can produce.
3) Economists use models as simplified representations to explain behavior. Microeconomics examines individuals and firms while macroeconomics looks at whole economies
Assignment 1
This document discusses key concepts of a free market economy including supply and demand, economic equilibrium, and spontaneous order. It analyzes how a free market allocates resources efficiently through market forces and price mechanisms without government intervention. The document also addresses three basic economic decisions that every society must make: what goods and services to produce and in what quantities, how to produce them, and who gets them. It explains how Nigeria answers these questions, with both government and private sectors determining production and market forces allocating based on demand. Natural resources like petroleum influence Nigeria's economy, with production, agriculture, and informal sector accounting for most economic activity.
appliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptx
This course deals with basic principles of applied economics and how they relate to contemporary economic issues in the Philippines, such as prices, wages, rent, and taxes. It involves analyzing industries to identify business opportunities and preparing a socioeconomic impact study of a business venture. The main goals are to differentiate economics as a social science and applied science, cite current economic issues, and relate principles of applied economics to issues using critical thinking.
Applied Economics
The document discusses a course in applied economics that deals with basic economic principles and their application to contemporary issues facing Filipino entrepreneurs, such as prices, wages, rent, and taxes. It covers industry analysis to identify business opportunities and requires students to prepare a socioeconomic impact study of a business venture. The course aims to help students understand and address current economic issues using critical thinking.
Jade june Macro Economics
This document provides an overview of macroeconomics concepts. It begins with defining economics and its origin from the Greek words oikos and nomus, meaning household management. It then discusses the central problem of scarcity due to limited resources and unlimited wants. Factors of production and the circular flow model showing the flow of resources and payments between households and businesses are introduced. Opportunity cost, basic economic questions around consumption, distribution and growth, and the types of economic systems are also summarized. Finally, it distinguishes between positive and normative economics and microeconomics versus macroeconomics.
Microeconomics Introduction Chapter 1 Prelim
This document provides an introduction to microeconomics. It defines key economic concepts like economy, economics, scarcity and factors of production. It explains the differences between positive and normative economics and describes different types of economic systems including traditional, command, market, socialist and mixed economies. Specific examples are given for some systems. The four basic economic questions and three E's in economics - efficiency, effectiveness and equity - are also outlined.
managerial economics Introduction.pptx
The document provides an overview of managerial economics, defining it as the study of how to direct scarce resources in a way that most efficiently achieves managerial goals. It discusses the key concepts in economics like scarcity, factors of production, microeconomics and macroeconomics. It also explains the nature, scope, and functions of managerial economics in assisting managers with decision making.
Introduction to Micro Economics
This document provides an introduction to microeconomics. It defines economics as the study of how individuals and societies choose to employ scarce resources. It discusses four main definitions of economics from classical economists like Adam Smith to modern economists. It then distinguishes between microeconomics and macroeconomics, with microeconomics focusing on individual units like firms and resource allocation, and macroeconomics studying overall aggregates like total production and consumption. The document also covers different types of economies (capitalist, socialist, mixed), central economic problems of resource allocation, and production possibility curves to illustrate scarcity.
Applied economics introduction to economics abm specialized subject
This course deals with the basic principles of applied economics and how they relate to issues facing Filipino entrepreneurs. It analyzes industries to identify business opportunities and requires students to prepare a socioeconomic impact study of a business venture. The document is a presentation on applied economics that defines economics, explores key concepts like scarcity and opportunity cost, and discusses how economic principles relate to challenges in the Philippines economy like unemployment and poverty. It aims to equip students with tools to evaluate economic policies and decisions.
EAB UNIT-I.pptx
It provides an introduction to economic analysis of business. this was a syllabus followed by Anna University center for distance education.
Economics chap 1
The document provides an overview of key economic concepts including:
- Economics is the study of how scarce resources are used to satisfy unlimited human wants. It deals with scarcity and how producers make products with limited resources.
- Scarcity exists when there is not enough of a product/service/resource to satisfy all needs and wants at zero price.
- Microeconomics studies individual markets and entities like firms and households. Macroeconomics studies the overall economy.
- Important economists who contributed major ideas include Adam Smith who advocated laissez-faire policies and John Maynard Keynes who argued the government should spend to boost employment during recessions.
Basics of economics
Economics is the study of how scarce resources are used to satisfy unlimited wants. It examines the choices that individuals, businesses, and governments make when allocating resources. Microeconomics focuses on individual markets and consumer behavior, while macroeconomics looks at whole economies and issues like growth, employment and inflation. Markets coordinate economic activity through prices, while governments provide public goods and address issues like externalities and inequality. Factors of production include labor, capital, land and entrepreneurship. Firms combine these to produce goods and services, while households supply labor and consume output.
Economics 1
The document provides an overview of the materials and topics that will be covered in Ms. J. Hernandez's Summer Economics class, including:
1) Students will need to bring specific materials like a notebook, pens, calculator, and textbook to class each day and have access to additional online materials.
2) Chapter 1 will introduce students to the fundamental economic concepts of scarcity, needs vs wants, factors of production, markets, productivity and economic growth.
3) Students are asked to complete assignments on the basic economic concepts of goods, services, consumers and the circular flow model.
Microeconomics Ch1
This document provides an overview of economics. It defines economics as the study of how individuals, businesses, governments, and societies make choices with scarce resources. It distinguishes between microeconomics, which studies individual and business decision-making, and macroeconomics, which studies overall economic activity and performance. Two key economic questions are examined: what goods and services are produced, how they are produced, and who receives them. The concept of incentives, tradeoffs, and opportunity costs are introduced as part of the "economic way of thinking."
TUTORS CIRCLE - Cpt Super Circle Summary Economics december 2013
The CPT Super Circle Summary for Economics updated with all macro data for the CA CPT Exam december 2013
Introduction To Microeconomics - Class 12
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.
Chapter 1 Introduction to Economics.pdf
This document provides an introduction to economics, distinguishing between microeconomics and macroeconomics. It defines economics as the study of how society uses scarce resources to produce goods and services. Microeconomics examines individual choices of households, businesses, and markets, while macroeconomics looks at overall national and global economic performance. The document also discusses the fundamental economic questions of what, how, and for whom to produce goods and services. It introduces the concept of opportunity cost and uses the production possibilities curve to illustrate scarcity, choice, and trade-offs.
Econ214 Macroeconomics Chapters 1 & 2
The document provides an overview of key economic concepts from an introductory economics textbook. It defines economics as the study of choice under scarcity and discusses the three economic questions of what, how, and for whom to produce. It also outlines the key principles of economics, including opportunity cost, marginal analysis, voluntary exchange, diminishing returns, and the difference between real and nominal values. The document uses examples and diagrams to illustrate these fundamental economic concepts.
Lecture1 Basic Economic Concepts (1)
This document provides an overview of microeconomics concepts including:
1. Economics is defined as the study of how scarce resources are allocated among alternative uses.
2. Key concepts in microeconomics include rational choice, incentives, marginal analysis, and opportunity cost.
3. Economic systems must answer questions about what to produce, how to produce it, and who receives it given the constraints of scarce resources.
Notes on Introduction to Managerial and Economical Demand
Notes: Industrial And Technology Management (TE Electrical Engineering) Unit I (University of Pune)
Topics Covered: Economics, Micro-economics and Macro-economics, Theory of Supply and Demand, Forecasting, Management, Business Ownership, Organisation Structure
Similar to Section 1 definitions (20)
appliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptx
appliedeconomicsintroductiontoeconomics-abmspecializedsubject-171203153213.pptx
Applied economics introduction to economics abm specialized subject
Applied economics introduction to economics abm specialized subject
TUTORS CIRCLE - Cpt Super Circle Summary Economics december 2013
TUTORS CIRCLE - Cpt Super Circle Summary Economics december 2013
Notes on Introduction to Managerial and Economical Demand
Notes on Introduction to Managerial and Economical Demand
Recently uploaded
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...Edge AI and Vision Alliance
For the full video of this presentation, please visit: https://www.edge-ai-vision.com/2024/06/temporal-event-neural-networks-a-more-efficient-alternative-to-the-transformer-a-presentation-from-brainchip/
Chris Jones, Director of Product Management at BrainChip , presents the “Temporal Event Neural Networks: A More Efficient Alternative to the Transformer” tutorial at the May 2024 Embedded Vision Summit.
The expansion of AI services necessitates enhanced computational capabilities on edge devices. Temporal Event Neural Networks (TENNs), developed by BrainChip, represent a novel and highly efficient state-space network. TENNs demonstrate exceptional proficiency in handling multi-dimensional streaming data, facilitating advancements in object detection, action recognition, speech enhancement and language model/sequence generation. Through the utilization of polynomial-based continuous convolutions, TENNs streamline models, expedite training processes and significantly diminish memory requirements, achieving notable reductions of up to 50x in parameters and 5,000x in energy consumption compared to prevailing methodologies like transformers.
Integration with BrainChip’s Akida neuromorphic hardware IP further enhances TENNs’ capabilities, enabling the realization of highly capable, portable and passively cooled edge devices. This presentation delves into the technical innovations underlying TENNs, presents real-world benchmarks, and elucidates how this cutting-edge approach is positioned to revolutionize edge AI across diverse applications.Introduction of Cybersecurity with OSS at Code Europe 2024
I develop the Ruby programming language, RubyGems, and Bundler, which are package managers for Ruby. Today, I will introduce how to enhance the security of your application using open-source software (OSS) examples from Ruby and RubyGems.
The first topic is CVE (Common Vulnerabilities and Exposures). I have published CVEs many times. But what exactly is a CVE? I'll provide a basic understanding of CVEs and explain how to detect and handle vulnerabilities in OSS.
Next, let's discuss package managers. Package managers play a critical role in the OSS ecosystem. I'll explain how to manage library dependencies in your application.
I'll share insights into how the Ruby and RubyGems core team works to keep our ecosystem safe. By the end of this talk, you'll have a better understanding of how to safeguard your code.
SAP S/4 HANA sourcing and procurement to Public cloud
SAP S4 HANA to Public cloud data object differences
Digital Marketing Trends in 2024 | Guide for Staying Ahead
https://www.wask.co/ebooks/digital-marketing-trends-in-2024
Feeling lost in the digital marketing whirlwind of 2024? Technology is changing, consumer habits are evolving, and staying ahead of the curve feels like a never-ending pursuit. This e-book is your compass. Dive into actionable insights to handle the complexities of modern marketing. From hyper-personalization to the power of user-generated content, learn how to build long-term relationships with your audience and unlock the secrets to success in the ever-shifting digital landscape.
Choosing The Best AWS Service For Your Website + API.pptx
Have you ever been confused by the myriad of choices offered by AWS for hosting a website or an API?
Lambda, Elastic Beanstalk, Lightsail, Amplify, S3 (and more!) can each host websites + APIs. But which one should we choose?
Which one is cheapest? Which one is fastest? Which one will scale to meet our needs?
Join me in this session as we dive into each AWS hosting service to determine which one is best for your scenario and explain why!
Your One-Stop Shop for Python Success: Top 10 US Python Development Providers
Simplify your search for a reliable Python development partner! This list presents the top 10 trusted US providers offering comprehensive Python development services, ensuring your project's success from conception to completion.
zkStudyClub - LatticeFold: A Lattice-based Folding Scheme and its Application...
Folding is a recent technique for building efficient recursive SNARKs. Several elegant folding protocols have been proposed, such as Nova, Supernova, Hypernova, Protostar, and others. However, all of them rely on an additively homomorphic commitment scheme based on discrete log, and are therefore not post-quantum secure. In this work we present LatticeFold, the first lattice-based folding protocol based on the Module SIS problem. This folding protocol naturally leads to an efficient recursive lattice-based SNARK and an efficient PCD scheme. LatticeFold supports folding low-degree relations, such as R1CS, as well as high-degree relations, such as CCS. The key challenge is to construct a secure folding protocol that works with the Ajtai commitment scheme. The difficulty, is ensuring that extracted witnesses are low norm through many rounds of folding. We present a novel technique using the sumcheck protocol to ensure that extracted witnesses are always low norm no matter how many rounds of folding are used. Our evaluation of the final proof system suggests that it is as performant as Hypernova, while providing post-quantum security.
Paper Link: https://eprint.iacr.org/2024/257
Building Production Ready Search Pipelines with Spark and Milvus
Spark is the widely used ETL tool for processing, indexing and ingesting data to serving stack for search. Milvus is the production-ready open-source vector database. In this talk we will show how to use Spark to process unstructured data to extract vector representations, and push the vectors to Milvus vector database for search serving.
Azure API Management to expose backend services securely
How to use Azure API Management to expose backend service securely
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-und-domino-lizenzkostenreduzierung-in-der-welt-von-dlau/
DLAU und die Lizenzen nach dem CCB- und CCX-Modell sind für viele in der HCL-Community seit letztem Jahr ein heißes Thema. Als Notes- oder Domino-Kunde haben Sie vielleicht mit unerwartet hohen Benutzerzahlen und Lizenzgebühren zu kämpfen. Sie fragen sich vielleicht, wie diese neue Art der Lizenzierung funktioniert und welchen Nutzen sie Ihnen bringt. Vor allem wollen Sie sicherlich Ihr Budget einhalten und Kosten sparen, wo immer möglich. Das verstehen wir und wir möchten Ihnen dabei helfen!
Wir erklären Ihnen, wie Sie häufige Konfigurationsprobleme lösen können, die dazu führen können, dass mehr Benutzer gezählt werden als nötig, und wie Sie überflüssige oder ungenutzte Konten identifizieren und entfernen können, um Geld zu sparen. Es gibt auch einige Ansätze, die zu unnötigen Ausgaben führen können, z. B. wenn ein Personendokument anstelle eines Mail-Ins für geteilte Mailboxen verwendet wird. Wir zeigen Ihnen solche Fälle und deren Lösungen. Und natürlich erklären wir Ihnen das neue Lizenzmodell.
Nehmen Sie an diesem Webinar teil, bei dem HCL-Ambassador Marc Thomas und Gastredner Franz Walder Ihnen diese neue Welt näherbringen. Es vermittelt Ihnen die Tools und das Know-how, um den Überblick zu bewahren. Sie werden in der Lage sein, Ihre Kosten durch eine optimierte Domino-Konfiguration zu reduzieren und auch in Zukunft gering zu halten.
Diese Themen werden behandelt
- Reduzierung der Lizenzkosten durch Auffinden und Beheben von Fehlkonfigurationen und überflüssigen Konten
- Wie funktionieren CCB- und CCX-Lizenzen wirklich?
- Verstehen des DLAU-Tools und wie man es am besten nutzt
- Tipps für häufige Problembereiche, wie z. B. Team-Postfächer, Funktions-/Testbenutzer usw.
- Praxisbeispiele und Best Practices zum sofortigen Umsetzen
HCL Notes and Domino License Cost Reduction in the World of DLAU
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-and-domino-license-cost-reduction-in-the-world-of-dlau/
The introduction of DLAU and the CCB & CCX licensing model caused quite a stir in the HCL community. As a Notes and Domino customer, you may have faced challenges with unexpected user counts and license costs. You probably have questions on how this new licensing approach works and how to benefit from it. Most importantly, you likely have budget constraints and want to save money where possible. Don’t worry, we can help with all of this!
We’ll show you how to fix common misconfigurations that cause higher-than-expected user counts, and how to identify accounts which you can deactivate to save money. There are also frequent patterns that can cause unnecessary cost, like using a person document instead of a mail-in for shared mailboxes. We’ll provide examples and solutions for those as well. And naturally we’ll explain the new licensing model.
Join HCL Ambassador Marc Thomas in this webinar with a special guest appearance from Franz Walder. It will give you the tools and know-how to stay on top of what is going on with Domino licensing. You will be able lower your cost through an optimized configuration and keep it low going forward.
These topics will be covered
- Reducing license cost by finding and fixing misconfigurations and superfluous accounts
- How do CCB and CCX licenses really work?
- Understanding the DLAU tool and how to best utilize it
- Tips for common problem areas, like team mailboxes, functional/test users, etc
- Practical examples and best practices to implement right away
dbms calicut university B. sc Cs 4th sem.pdf
Its a seminar ppt on database management system using sql
Public CyberSecurity Awareness Presentation 2024.pptx
Cyber security awareness slides for a busisness by TreeTop Security
Salesforce Integration for Bonterra Impact Management (fka Social Solutions A...
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on integration of Salesforce with Bonterra Impact Management.
Interested in deploying an integration with Salesforce for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
Skybuffer AI: Advanced Conversational and Generative AI Solution on SAP Busin...
Skybuffer AI, built on the robust SAP Business Technology Platform (SAP BTP), is the latest and most advanced version of our AI development, reaffirming our commitment to delivering top-tier AI solutions. Skybuffer AI harnesses all the innovative capabilities of the SAP BTP in the AI domain, from Conversational AI to cutting-edge Generative AI and Retrieval-Augmented Generation (RAG). It also helps SAP customers safeguard their investments into SAP Conversational AI and ensure a seamless, one-click transition to SAP Business AI.
With Skybuffer AI, various AI models can be integrated into a single communication channel such as Microsoft Teams. This integration empowers business users with insights drawn from SAP backend systems, enterprise documents, and the expansive knowledge of Generative AI. And the best part of it is that it is all managed through our intuitive no-code Action Server interface, requiring no extensive coding knowledge and making the advanced AI accessible to more users.
GraphRAG for Life Science to increase LLM accuracy
GraphRAG for life science domain, where you retriever information from biomedical knowledge graphs using LLMs to increase the accuracy and performance of generated answers
Astute Business Solutions | Oracle Cloud Partner |
Your goto partner for Oracle Cloud, PeopleSoft, E-Business Suite, and Ellucian Banner. We are a firm specialized in managed services and consulting.
A Comprehensive Guide to DeFi Development Services in 2024
DeFi represents a paradigm shift in the financial industry. Instead of relying on traditional, centralized institutions like banks, DeFi leverages blockchain technology to create a decentralized network of financial services. This means that financial transactions can occur directly between parties, without intermediaries, using smart contracts on platforms like Ethereum.
In 2024, we are witnessing an explosion of new DeFi projects and protocols, each pushing the boundaries of what’s possible in finance.
In summary, DeFi in 2024 is not just a trend; it’s a revolution that democratizes finance, enhances security and transparency, and fosters continuous innovation. As we proceed through this presentation, we'll explore the various components and services of DeFi in detail, shedding light on how they are transforming the financial landscape.
At Intelisync, we specialize in providing comprehensive DeFi development services tailored to meet the unique needs of our clients. From smart contract development to dApp creation and security audits, we ensure that your DeFi project is built with innovation, security, and scalability in mind. Trust Intelisync to guide you through the intricate landscape of decentralized finance and unlock the full potential of blockchain technology.
Ready to take your DeFi project to the next level? Partner with Intelisync for expert DeFi development services today!
Digital Banking in the Cloud: How Citizens Bank Unlocked Their Mainframe
Inconsistent user experience and siloed data, high costs, and changing customer expectations – Citizens Bank was experiencing these challenges while it was attempting to deliver a superior digital banking experience for its clients. Its core banking applications run on the mainframe and Citizens was using legacy utilities to get the critical mainframe data to feed customer-facing channels, like call centers, web, and mobile. Ultimately, this led to higher operating costs (MIPS), delayed response times, and longer time to market.
Ever-changing customer expectations demand more modern digital experiences, and the bank needed to find a solution that could provide real-time data to its customer channels with low latency and operating costs. Join this session to learn how Citizens is leveraging Precisely to replicate mainframe data to its customer channels and deliver on their “modern digital bank” experiences.
Recently uploaded (20)
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...
“Temporal Event Neural Networks: A More Efficient Alternative to the Transfor...
Introduction of Cybersecurity with OSS at Code Europe 2024
Introduction of Cybersecurity with OSS at Code Europe 2024
SAP S/4 HANA sourcing and procurement to Public cloud
SAP S/4 HANA sourcing and procurement to Public cloud
Digital Marketing Trends in 2024 | Guide for Staying Ahead
Digital Marketing Trends in 2024 | Guide for Staying Ahead
Choosing The Best AWS Service For Your Website + API.pptx
Choosing The Best AWS Service For Your Website + API.pptx
Your One-Stop Shop for Python Success: Top 10 US Python Development Providers
Your One-Stop Shop for Python Success: Top 10 US Python Development Providers
zkStudyClub - LatticeFold: A Lattice-based Folding Scheme and its Application...
zkStudyClub - LatticeFold: A Lattice-based Folding Scheme and its Application...
Building Production Ready Search Pipelines with Spark and Milvus
Building Production Ready Search Pipelines with Spark and Milvus
Azure API Management to expose backend services securely
Azure API Management to expose backend services securely
Deep Dive: AI-Powered Marketing to Get More Leads and Customers with HyperGro...
Deep Dive: AI-Powered Marketing to Get More Leads and Customers with HyperGro...
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAU
HCL Notes and Domino License Cost Reduction in the World of DLAU
HCL Notes and Domino License Cost Reduction in the World of DLAU
Public CyberSecurity Awareness Presentation 2024.pptx
Public CyberSecurity Awareness Presentation 2024.pptx
Salesforce Integration for Bonterra Impact Management (fka Social Solutions A...
Salesforce Integration for Bonterra Impact Management (fka Social Solutions A...
Skybuffer AI: Advanced Conversational and Generative AI Solution on SAP Busin...
Skybuffer AI: Advanced Conversational and Generative AI Solution on SAP Busin...
GraphRAG for Life Science to increase LLM accuracy
GraphRAG for Life Science to increase LLM accuracy
Astute Business Solutions | Oracle Cloud Partner |
Astute Business Solutions | Oracle Cloud Partner |
A Comprehensive Guide to DeFi Development Services in 2024
A Comprehensive Guide to DeFi Development Services in 2024
Digital Banking in the Cloud: How Citizens Bank Unlocked Their Mainframe
Digital Banking in the Cloud: How Citizens Bank Unlocked Their Mainframe
Section 1 definitions
- 1. Section 1 – definitions Serina Yamada IB Economics
- 2. Microeconomics & Macroeconomics Microeconomics is the study of the behavior of individual markets. Macroeconomics is the study of how the economy as a whole works. onlinetutorsite.com
- 3. Positive Economics & Normative Economics Positive Economics examines matters of economics that can be proven to be right or wrong by looking at the facts. Normative Economics examines matters of economics that are based upon opinion and so are incapable of being proven to be right or wrong.
- 4. Scarcity Scarcity exists because of the limited availability of economic resources relative to society’s unlimited demand for goods and services. http://trendsupdates.com/water-no-longer-a-fundamental-right/
- 5. Factors of Production L – Land is the Physical factor of production. It consists of natural resources, some of which are renewable and some of which are non-renewable. L – Labor is the human factor of production. It is the physical and mental contribution of the existing workforce to production. C – Capital is the factor of production that is made by humans and is used to produce goods and services. It occurs as a result of investment. E – Entrepreneurship is the factor of production involving the organization of the other factors of production and also involves risk – taking.
- 6. Opportunity Cost Opportunity Cost is the next best alternative forgone when an economic decision is made. http://www.intuitivewu.com/2010/08/opportunity-cost/
- 7. Free Goods & Economic Goods Free goods are goods which are unlimited in supply and have no opportunity cost. A free good has an unlimited supply at market price zero. Economic goods is a good or service that is relatively scarce and so has a price. An opportunity cost is involved when it is consumed.
- 8. Utility Utility is the satisfaction or pleasure that an individual derives from the consumption of a good or service.
- 9. Production Possibilities Curve (PPC) A PPC curve shows the maximum combination of goods or services that can be produced by an economy in a give time period, if all the resources in the economy are being used fully and effectively.
- 10. Free Market Economy A Free Market Economy is an economy where the means of production are privately held by individuals and firms. Demand and supply determine what to produce, how to produce it and for whom to produce. optimistworld.com