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Презентація на тему:
What is economics?

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What is economics?

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Презентація по слайдам:

Слайд 1

WHAT IS ECONOMICS? prepared Hordiienko Olha RM-104

Слайд 2

Plan: 1. Vocabulary 2. Economics 3. Modern economics 4. Factors of production 5. Scarcity 6. The main problem in economics 7. Microeconomics and macroeconomics

Слайд 3

Vocabulary Economics Wants and needs Scarcity Factors of production Economic problem Land, labour, capital, entrepreneurship Goods, services Limited resources Production, distribution, consumption

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Economics The term economics comes from the Ancient Greek oikonomia , the word composed of oikos( “house”) and nomos(“law”).

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Modern economics Modern economics began in 1776, with the publication of Adam Smith’s “Wealth of Nations” . Modern definition of economics interprets it as a social science, which analyses the production, distribution, and consumption of goods and services.

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Factors of production Economics often uses such categories as factors of production. Land, labour, capital and entrepreneurship are main productive resources.

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Scarcity Scarcity is the fundamental economic problem of having unlimited human needs and wants in the world of limited resources. Economics is sometimes called the study of scarcity.

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The main problem in economics The main problem in economics is the question of allocating scare resources between competing uses. In this connection arise three questions : What to produce? For whom to produce? How to produce?

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Microeconomics and macroeconomics Microeconomics studies the action of individuals and firms, and how they interact. Macroeconomics studies inflation, unemployment and GDP.

Слайд 10

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