Slide 1 Slide 2 Thinking Like an Economist Slide 3 Economics is the study of how society manages its scarce resources. Scarcity: If resources were not scarce there would…
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UntitledMINISTRY OF EDUCATION Published E.C. 2003 by the Federal Democratic Republic of Ethiopia, Ministry of Education, under the General Education Quality Improvement Project
What is Economics About? What is Economics all About? Economics is the study of how individuals and societies use their scarce productive resources to obtain goods and services.…
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FOUNDATIONS OF ECONOMICS WHAT COMES TO YOUR MIND WHEN YOU HEAR THE WORD SCARCE? WHAT IS ECONOMICS? So then the big two concepts are that: Resources are scarce! Society has…
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Slide 1 Why economics? p 17 Task IV check Paragraphs 1 – 8 Pg 2: economic, economics, economics Pg 3: scarce Attn: [ skeәs ] Pg 4: economy, economic, economize, economics…
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Intro to Economics Intro to Economics What is economics?? Efficient use of scarce resources Study of how individuals and society, experiencing limitless wants, choose to…
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© 2002 Prentice Hall Business Publishing Principles of Economics, 6/e Karl Case, Ray Fair C H A P T E R 1 The Scope and Method of Economics © 2002 Prentice Hall