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What is Economics About?

What is Economics About?. Economics: The Social Science which studies social and individual choices in a condition of scarcity with the objective of maximizing the satisfaction of human wants. Resources and Wants. We have limited resources. We have wants which exceed those resources.

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483 views • 48 slides

Ch. 1: What is Economics?

Ch. 1: What is Economics?. Objectives 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 Explain how economists go about their work as social scientists.

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359 views • 16 slides

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Economists assume - PowerPoint PPT Presentation

What is Economics About?

Ch. 1: What is Economics?