'Circular flow diagram' presentation slideshows

Unit 1: Fundamentals of Economics

Unit 1: Fundamentals of Economics. Unit 1 Standards:. SSEF1, SSEF2, SSEF4, SSEF5, SSEF6, SSMI1. Unit 1: EQs. What is scarcity? What are the factors of production? How are limited resources allocated? What trade-offs appear on a production possibilities frontier?

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Economic Systems

Economic Systems. Chapter 3. Why are economic systems needed?. Rules of the game! Standard incentives Understanding of the rewards. Economic Systems can allow for _____. A. Specialization B. Comparative / Absolute advantage. Adam Smith. THE WEALTH OF NATIONS (1776)

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The Measurement and Structure of the National Economy

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PowerPoint Lectures for Principles of Macroeconomics, 9e By Karl E. Case, Ray C. Fair & Sharon M. Oster

PowerPoint Lectures for Principles of Macroeconomics, 9e By Karl E. Case, Ray C. Fair & Sharon M. Oster. ; ; . Introduction to Macroeconomics. Prepared by:. Fernando & Yvonn Quijano. Introduction to Macroeconomics. PART II CONCEPTS AND PROBLEMS IN MACROECONOMICS. 5.

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By Fernando Quijano & Yvonn Quijano

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Demand, Supply and Price Theory

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Answering the Three Economic Questions

Answering the Three Economic Questions. What key economic questions must every society answer? What basic economic goals do societies have? What types of economic systems exist today?. The Three Economic Questions. Every society must answer three questions:

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Thinking Like an Economist

Thinking Like an Economist. Lecturer: Jack Wu. IS THE ECONOMIST A SCIENTIST?. Economics = queen of social science (Only Nobel Prize in Economics) Economics in Business is like Physics in Engineering Economists = scientists Devise theories Collect data Analyze these data

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History of economic thought Economics as a science

History of economic thought Economics as a science. Petr Wawrosz. What is science. Science is a method, a confidence and a faith. It is a method of controlled and rechecked observations and experiments, objectively recorded with absolute honesty.

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Principles of Economics

Principles of Economics Lecture 2 Thinking like an economist Role of economic models Economists use diagrams and equations in models to learn more about the economy. When making models, economists often use assumptions. Circular Flow Diagram Just remember:

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Chapter 2: Demand & Supply

Chapter 2: Demand & Supply. Agenda (Game Plan). Markets & Circular Flow Diagram What is demand? The law of demand The demand curve Determinants of demand Change in demand vs. change in quantity demanded The law of diminishing marginal utility Elasticity of Demand. What is a Market?.

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MICROECONOMICS

MICROECONOMICS. SSEMI1 The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money.

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The Circular Flow of Income and Expenditure

The Circular Flow of Income and Expenditure. The circular flow diagram shows the transactions among households, firms, governments, and the rest of the world. The Circular Flow of Income and Expenditure.

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Circular Flow of Economic Activity

Circular Flow of Economic Activity. Georgia Standard . SSEMI1 The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money.

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Circular Flow & Money

Circular Flow & Money. SSEMI1 The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money.

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Topic #2: Thinking Like an Economist

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Problem 2.3: Draw a circular flow diagram. Identify the parts of the model that correspond to the following:

Problem 2.3: Draw a circular flow diagram. Identify the parts of the model that correspond to the following:. Sam pays $1 for a quart of milk Sally earns $4.50 an hour Serena spends $7 to see a movie Stuart earns $10,000 from his 10% ownership of Acme Industrial.

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Observing & Explaining the economy

Observing & Explaining the economy. AP Macro for chapter 2 in Taylor. Key points (p. 29 in text). Economists try to explain facts & observations about the economy Tables & graphs help organize the info

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1. Which statement is true about the circular flow diagram?

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