'People make choices' presentation slideshows

754 views • 75 slides

Managerial Economics - Lecture 1 Dr. Abdullah Alharbi

Managerial Economics - Lecture 1 Dr. Abdullah Alharbi. Introduction:. Basic Concepts of Economics. Definition of Economics. All economic questions arise because we want more than we can get. Our inability to satisfy all our wants is called scarcity .

779 views • 44 slides

WHAT IS ECONOMICS?

1. WHAT IS ECONOMICS?. CHAPTER. Objectives. After studying this chapter, you will be able to: Define economics and distinguish between microeconomics and macroeconomics Explain the three big questions of microeconomics Explain the three big questions of macroeconomics

517 views • 44 slides

WHAT IS ECONOMICS?

1. WHAT IS ECONOMICS?. CHAPTER. Objectives. After studying this chapter, you will be able to: Define economics and distinguish between microeconomics and macroeconomics Explain the three big questions of microeconomics Explain the three big questions of macroeconomics

520 views • 44 slides

WHAT IS ECONOMICS?

1. WHAT IS ECONOMICS?. CHAPTER. Objectives. After studying this chapter, you will be able to: Define economics and distinguish between microeconomics and macroeconomics Explain the big questions of economics Explain the key ideas that define the economic way of thinking

506 views • 37 slides

Definition of Economics

Definition of Economics. All economic questions arise because we want more than we can get. Our inability to satisfy all our wants is called scarcity . Because we face scarcity, we must make choices . The choices we make depend on the incentives we face.

379 views • 28 slides

WHAT IS ECONOMICS?

1. WHAT IS ECONOMICS?. CHAPTER. Objectives. After studying this chapter, you will be able to: Define economics and distinguish between microeconomics and macroeconomics Explain the big questions of economics Explain the key ideas that define the economic way of thinking

458 views • 25 slides

MICROECONOMICS

MICROECONOMICS. 2014-3 Cheryl Fu. Definition of Economics. All economic questions arise because we want more than we can get. Our inability to satisfy all our wants is called scarcity . Because we face scarcity, we must make choices . The choices we make depend on the incentives we face.

235 views • 18 slides

What is Economics?

What is Economics?. Chapter One. SCARCITY AND THE FACTORS OF PRODUCTION. Section One. Make a list of 5 things (goods) that you need everyday. Now, make a list of 5 things (goods) you want, but you do not have. Why do you not have all the things that you want?

190 views • 17 slides