Introduction to Economics

Slides:

Advertisements

Similar presentations

Factors of Production Lesson 2. Types of Resources Individuals, families, businesses, and the government make economic decisions concerning the use of.

Advertisements

Scarcity and the Factors of Production

Study of the choices people make when faced with scarcity.

Introduction to Economics. What is Economics? Economics is the study of people producing and exchanging to get the goods and services they want. Simply.

ECONOMICS. What is Economics?  Economics is the study of choices and decisions people make about how to use the world’s resources.  Meeting unlimited.

Scarcity and the Factors of Production. Scarcity and Choice  Need- something like food, air, shelter, water (necessary for survival)  Want- item we.

The Three Fundamental Questions... How will the goods be produced? What will be produced? Who will get the goods and services? ECONOMICS AT WORK.

Economics Basic Economics. What is Economics?  It is the study of how individuals and nations allocate their scarce resources for the fulfillment of.

Chapter 1: What is Economics? Section 1. Slide 2 Copyright © Pearson Education, Inc.Chapter 1, Section 1 Objectives 1.Explain why scarcity and choice.

 The study of how individuals, families, and businesses use limited resources to fulfill unlimited wants.  You must choose how to spend your time 

INTRO TO ECONOMICS FACTORS OF PRODUCTION.  Economics is the study of choices & decisions people make about how to use the world’s resources.  Meeting.

The Factors of Production Game

What is Economics?.

“ECONOMICS IS EVERYWHERE!” - Factors of Production

Introduction to Macroeconomics Basic Economic Concepts.

Introduction to Economics

Chapter 1.1 notes.

Grab a textbook and: 1) write down the new vocabulary words for Chapter 2 and their definitions. 2) pick one word to explain to our classmates.

Economics Introduction Frederick University 2014.

Introduction to Economics. What is Economics? The study of how society chooses to allocate its scarce resources to the production of goods and services.

Civics & Economics Top 100 What every student should know to pass the Civics & Economics EOC Goal 7.

ECONOMICS Welcome! Bellringer: Write about how you did over the last nine weeks. What worked for you? What needed improvement? Please complete and submit.

Goals: The students will understand: 1. Basic economic language. 2. The three factors of production. 3. Why labor and entrepreneurship are in different.

Ch.1 Sec-1.  What is Economics?  Economics ◦ The study of how individuals, families, and societies use limited resources to fulfill their unlimited.

Economics Social science concerned with how individuals, institutions, and society make optimal decisions under conditions of scarcity.

Chapter 1: What is Economics? Section 1. Slide 2 Copyright © Pearson Education, Inc.Chapter 1, Section 1 Objectives 1.Explain why scarcity and choice.

Economics is about individual choice.. Individual Choice Economics – The social science concerned with the efficient use of limited or scarce resources.

Friday, January 8, 2016 Objective: Students will be able to describe how societies answer basic economic questions and the influence of factors of production.

Vocabulary  Economics- The study of making decisions in a world with limited resources.  Scarcity- The fundamental economic problem.  Factors of Production-

Can We Have It All? Microeconomics Unit 1: Basic Economic Concepts.

Play Dough Economics Cornell Cougar Company Lesson Tuchek.

Do Now Pick your own seats! ~Choose wisely~ Grab your folder.

Circular Flow of Wealth Models

Agenda- 5/13 Test/stopwatches SAFE Permission slips, divide days

Economics Study of the choices people make when faced with scarcity.

What is the difference between a good that is a need and a good that is a want? Give an example of each. A good that is a need is necessary for survival,

What every student should know to pass the Civics & Economics EOC

Production / Goods & Services

Managing Human Resources and Labor Relations.

Introduction to Economics

UNIT VI – Fundamentals of Economics

What is economics? Vocabulary

Scarcity: The Basic Economic Problem

American Production UNIT 7.

Ch. 1 What is Economics?.

Introduction to Macroeconomics

What is Economics?.

Economics Unit #9.

Need vs. Want Need- food, water, shelter Want-all else that you desire.

Economics Unit 1 Intro to Economics.

Economic Choices Project

Needs and Wants All humans have the same basic needs: air to breath, food to eat, water to drink, and clothing and shelter to protect us. Beyond these.

Unit 1 - Intro to Economics

What every student should know to pass the Civics & Economics EOC

Week 1 Vocabulary Copy and define the week 1 vocabulary terms on the side board using the text book.

Goods services. goods services Identify the basic questions all economic systems address Objective Identify the basic questions all economic.

Monday March 23, 2015 Introduction to Economics

The Basic Problem of Economics

Entrepreneurship: A Look at Wants and Needs

Can you remember a time when you saved money to buy something expensive? Was the item a necessity or something that you simply wanted to own?

What is Economics? The study of how ppl. try to satisfy what appears to be seemingly unlimited and competing wants through the careful use of relatively.

Introduction to Economics

Consumer Driven Economy

Production / Goods & Services

Economic resources Factors of production.

Chapter 1.1 notes.

ECONOMICS The study of how people seek to satisfy their needs and wants by making choices.

Economics Unit 1 Intro to Economics.

INTRO. TO ECONOMICS NOTES.

Presentation transcript:

Introduction to Economics

Needs and Wants

Needs and Wants Biological Needs

Needs and Wants Biological Needs Food Water Shelter

Needs and Wants Societal Needs

Needs and Wants Societal Needs Comfort/Luxury Security Entertainment Love/Acceptance

The Concern of Economics What it’s about

The Concern of Economics What it’s about Our efforts to provide ourselves with our material needs and wants

Economic Resources (The Factors of Production)

Economic Resources (The Factors of Production) Property Resources

Economic Resources (The Factors of Production) Property Resources Land Capital

Economic Resources (The Factors of Production) Human Resources

Economic Resources (The Factors of Production) Human Resources Labor Entrepreneurs

The Three Basic Questions What to Produce? How to Produce? For Whom to Produce?