SlideShare a Scribd company logo
1 of 24
Basic Economics - Academic Unit One
I.  What is Economics?
A.  Study of Choice ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
B.  Decisions ,[object Object],[object Object]
C.  National ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
5.  Production Possibilities Curve ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
D.  Individuals ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
II.  Different Economies
A.  Answering the Three Economic Questions ,[object Object],[object Object],[object Object],[object Object]
B.  Economic Goals and Societal Values ,[object Object],[object Object],[object Object],[object Object],[object Object]
C.  Economics and Values ,[object Object],[object Object],[object Object],[object Object],[object Object]
D.  Adam Smith  Wealth of Nations ,[object Object],[object Object],[object Object],[object Object]
E.  Marx &  The Communist Manifesto ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
F.  John Maynard Keynes ,[object Object],[object Object],[object Object],[object Object]
F.  Modern Economics and Mixed Economies ,[object Object],[object Object],[object Object],[object Object]
G.  Modern China ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
H. North Korea ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
III.  American Economy
A.  Free Enterprise, Yesterday and Today ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
 
8.  When the government should get involved… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
B.  Providing Public Goods ,[object Object],[object Object],[object Object]
C.  Tracking Our Successful Economy ,[object Object],[object Object],[object Object],[object Object]

More Related Content

What's hot

Mixed and Market Economies Grade 9 Social
Mixed and Market Economies Grade 9 SocialMixed and Market Economies Grade 9 Social
Mixed and Market Economies Grade 9 SocialMcRae
 
Market economy
Market economyMarket economy
Market economyYumonomics
 
The role of the government in the economy
The role of the government in the economyThe role of the government in the economy
The role of the government in the economyMonique Trejeros
 
Economics Chapter 2
Economics Chapter 2Economics Chapter 2
Economics Chapter 2jaqcl
 
Economic Systems
Economic SystemsEconomic Systems
Economic Systemsmxcastro
 
Economy type and characteristics
Economy type and characteristicsEconomy type and characteristics
Economy type and characteristicsNamita Sharma
 
Types of economic systems
Types of economic systemsTypes of economic systems
Types of economic systemsyacub13
 
The role of_government_in_a_market_economy
The role of_government_in_a_market_economyThe role of_government_in_a_market_economy
The role of_government_in_a_market_economyshackkyl
 
Characteristics of economic systems
Characteristics of economic systemsCharacteristics of economic systems
Characteristics of economic systemsklgriffin
 
Role Of The Govt. Macro Economics Chap02
Role Of The Govt. Macro  Economics Chap02Role Of The Govt. Macro  Economics Chap02
Role Of The Govt. Macro Economics Chap02Ashar Azam
 
Unit 6 - Role of Government In Business - Notesdes
Unit 6 - Role of Government In Business - NotesdesUnit 6 - Role of Government In Business - Notesdes
Unit 6 - Role of Government In Business - Notesdescelsesser
 
Economics: Chapter 3
Economics: Chapter 3Economics: Chapter 3
Economics: Chapter 3krobinette
 

What's hot (18)

Mixed and Market Economies Grade 9 Social
Mixed and Market Economies Grade 9 SocialMixed and Market Economies Grade 9 Social
Mixed and Market Economies Grade 9 Social
 
Market economy
Market economyMarket economy
Market economy
 
Chapter 2
Chapter 2Chapter 2
Chapter 2
 
Economic Systems
Economic SystemsEconomic Systems
Economic Systems
 
Econ System
Econ SystemEcon System
Econ System
 
The role of the government in the economy
The role of the government in the economyThe role of the government in the economy
The role of the government in the economy
 
Economics Chapter 2
Economics Chapter 2Economics Chapter 2
Economics Chapter 2
 
Economic Systems
Economic SystemsEconomic Systems
Economic Systems
 
Economic systems
Economic systemsEconomic systems
Economic systems
 
Economy type and characteristics
Economy type and characteristicsEconomy type and characteristics
Economy type and characteristics
 
Types of economic systems
Types of economic systemsTypes of economic systems
Types of economic systems
 
The role of_government_in_a_market_economy
The role of_government_in_a_market_economyThe role of_government_in_a_market_economy
The role of_government_in_a_market_economy
 
Economic system
Economic systemEconomic system
Economic system
 
Characteristics of economic systems
Characteristics of economic systemsCharacteristics of economic systems
Characteristics of economic systems
 
role of government
role of governmentrole of government
role of government
 
Role Of The Govt. Macro Economics Chap02
Role Of The Govt. Macro  Economics Chap02Role Of The Govt. Macro  Economics Chap02
Role Of The Govt. Macro Economics Chap02
 
Unit 6 - Role of Government In Business - Notesdes
Unit 6 - Role of Government In Business - NotesdesUnit 6 - Role of Government In Business - Notesdes
Unit 6 - Role of Government In Business - Notesdes
 
Economics: Chapter 3
Economics: Chapter 3Economics: Chapter 3
Economics: Chapter 3
 

Viewers also liked

Viewers also liked (8)

Civil war
Civil warCivil war
Civil war
 
Unit 3 academic
Unit 3 academicUnit 3 academic
Unit 3 academic
 
Unit 3
Unit 3Unit 3
Unit 3
 
Unit 4 – finance and labor
Unit 4 – finance and laborUnit 4 – finance and labor
Unit 4 – finance and labor
 
Civil war 1861-1865
Civil war 1861-1865Civil war 1861-1865
Civil war 1861-1865
 
Jamestown
JamestownJamestown
Jamestown
 
Unit 5 business and labor
Unit 5 business and laborUnit 5 business and labor
Unit 5 business and labor
 
Trailblazers
TrailblazersTrailblazers
Trailblazers
 

Similar to Unit 1 academic basic economics

Chapter 2 Fall 2008 Bom Economics
Chapter 2 Fall 2008 Bom EconomicsChapter 2 Fall 2008 Bom Economics
Chapter 2 Fall 2008 Bom EconomicsMr. Waye
 
Types of economic systems
Types of economic systemsTypes of economic systems
Types of economic systemsyacub13
 
Typesofeconomicsystems 120210161905-phpapp02 (1)
Typesofeconomicsystems 120210161905-phpapp02 (1)Typesofeconomicsystems 120210161905-phpapp02 (1)
Typesofeconomicsystems 120210161905-phpapp02 (1)Abdul Qayyum
 
economics systems
economics systemseconomics systems
economics systemsSEME NSIKE
 
Economic Systems.pptx
Economic Systems.pptxEconomic Systems.pptx
Economic Systems.pptx1992jef
 
Types of Economies
Types of EconomiesTypes of Economies
Types of EconomiesHugo OGrady
 
Unit 2 government and trade general
Unit 2 government and trade generalUnit 2 government and trade general
Unit 2 government and trade generalFredrick Smith
 
Unit 2 government and trade academic
Unit 2 government and trade academicUnit 2 government and trade academic
Unit 2 government and trade academicFredrick Smith
 
Economic systems decision making chapter2week1
Economic systems decision making chapter2week1Economic systems decision making chapter2week1
Economic systems decision making chapter2week1anobles
 
Typesofeconomicsystems 120210161905-phpapp02
Typesofeconomicsystems 120210161905-phpapp02Typesofeconomicsystems 120210161905-phpapp02
Typesofeconomicsystems 120210161905-phpapp02Tanvir Bhatti
 
Lesson #3: The Political Economy
Lesson #3:  The Political EconomyLesson #3:  The Political Economy
Lesson #3: The Political Economygravy503
 
Economics system.pdf By.Milan Kagarana
Economics system.pdf By.Milan KagaranaEconomics system.pdf By.Milan Kagarana
Economics system.pdf By.Milan KagaranaMilan Kagarana
 
Economic systems and economic crises
Economic systems and economic crisesEconomic systems and economic crises
Economic systems and economic crisespapefons Fons
 
Factors that promote or hinder development(1)
Factors that promote or hinder development(1)Factors that promote or hinder development(1)
Factors that promote or hinder development(1)Tashmar Davis
 

Similar to Unit 1 academic basic economics (20)

Chapter 2 PowerPoint
Chapter 2 PowerPointChapter 2 PowerPoint
Chapter 2 PowerPoint
 
Chapter 2 Fall 2008 Bom Economics
Chapter 2 Fall 2008 Bom EconomicsChapter 2 Fall 2008 Bom Economics
Chapter 2 Fall 2008 Bom Economics
 
Types of economic systems
Types of economic systemsTypes of economic systems
Types of economic systems
 
Typesofeconomicsystems 120210161905-phpapp02 (1)
Typesofeconomicsystems 120210161905-phpapp02 (1)Typesofeconomicsystems 120210161905-phpapp02 (1)
Typesofeconomicsystems 120210161905-phpapp02 (1)
 
economics systems
economics systemseconomics systems
economics systems
 
Economic systems
Economic systemsEconomic systems
Economic systems
 
Economic Systems.pptx
Economic Systems.pptxEconomic Systems.pptx
Economic Systems.pptx
 
Types of Economies
Types of EconomiesTypes of Economies
Types of Economies
 
Unit 2 government and trade general
Unit 2 government and trade generalUnit 2 government and trade general
Unit 2 government and trade general
 
Unit 2 government and trade academic
Unit 2 government and trade academicUnit 2 government and trade academic
Unit 2 government and trade academic
 
Economic systems decision making chapter2week1
Economic systems decision making chapter2week1Economic systems decision making chapter2week1
Economic systems decision making chapter2week1
 
Typesofeconomicsystems 120210161905-phpapp02
Typesofeconomicsystems 120210161905-phpapp02Typesofeconomicsystems 120210161905-phpapp02
Typesofeconomicsystems 120210161905-phpapp02
 
Ch 02
Ch 02Ch 02
Ch 02
 
Lesson #3: The Political Economy
Lesson #3:  The Political EconomyLesson #3:  The Political Economy
Lesson #3: The Political Economy
 
Economics system.pdf By.Milan Kagarana
Economics system.pdf By.Milan KagaranaEconomics system.pdf By.Milan Kagarana
Economics system.pdf By.Milan Kagarana
 
Economy
Economy Economy
Economy
 
The Economic System
The Economic SystemThe Economic System
The Economic System
 
Economic systems and economic crises
Economic systems and economic crisesEconomic systems and economic crises
Economic systems and economic crises
 
Factors that promote or hinder development(1)
Factors that promote or hinder development(1)Factors that promote or hinder development(1)
Factors that promote or hinder development(1)
 
The economics system
The economics systemThe economics system
The economics system
 

More from Fredrick Smith (20)

Abraham lincoln
Abraham lincolnAbraham lincoln
Abraham lincoln
 
Prohibition
ProhibitionProhibition
Prohibition
 
Rise of big business 1860 1900
Rise of big business 1860 1900Rise of big business 1860 1900
Rise of big business 1860 1900
 
Shays rebellion reading
Shays rebellion readingShays rebellion reading
Shays rebellion reading
 
Delegates
DelegatesDelegates
Delegates
 
Articles of confetti
Articles of confettiArticles of confetti
Articles of confetti
 
Patriot games
Patriot gamesPatriot games
Patriot games
 
The hill has_eyes
The hill has_eyesThe hill has_eyes
The hill has_eyes
 
Indepence day
Indepence dayIndepence day
Indepence day
 
Down in the_valley
Down in the_valleyDown in the_valley
Down in the_valley
 
Desperate continentals
Desperate continentalsDesperate continentals
Desperate continentals
 
Cowpens sand table
Cowpens sand tableCowpens sand table
Cowpens sand table
 
Leaders of the revolution (2)
Leaders of the revolution (2)Leaders of the revolution (2)
Leaders of the revolution (2)
 
Rev war timeline and maps
Rev war timeline and mapsRev war timeline and maps
Rev war timeline and maps
 
Pest control
Pest controlPest control
Pest control
 
Anger management
Anger managementAnger management
Anger management
 
Iced tea
Iced teaIced tea
Iced tea
 
Growing tensions (1)
Growing tensions (1)Growing tensions (1)
Growing tensions (1)
 
Age of empires (1)
Age of empires (1)Age of empires (1)
Age of empires (1)
 
French and Indian War
French and Indian WarFrench and Indian War
French and Indian War
 

Recently uploaded

🐬 The future of MySQL is Postgres 🐘
🐬  The future of MySQL is Postgres   🐘🐬  The future of MySQL is Postgres   🐘
🐬 The future of MySQL is Postgres 🐘RTylerCroy
 
AWS Community Day CPH - Three problems of Terraform
AWS Community Day CPH - Three problems of TerraformAWS Community Day CPH - Three problems of Terraform
AWS Community Day CPH - Three problems of TerraformAndrey Devyatkin
 
Strategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
Strategize a Smooth Tenant-to-tenant Migration and Copilot TakeoffStrategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
Strategize a Smooth Tenant-to-tenant Migration and Copilot Takeoffsammart93
 
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost Saving
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost SavingRepurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost Saving
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost SavingEdi Saputra
 
TrustArc Webinar - Stay Ahead of US State Data Privacy Law Developments
TrustArc Webinar - Stay Ahead of US State Data Privacy Law DevelopmentsTrustArc Webinar - Stay Ahead of US State Data Privacy Law Developments
TrustArc Webinar - Stay Ahead of US State Data Privacy Law DevelopmentsTrustArc
 
Exploring the Future Potential of AI-Enabled Smartphone Processors
Exploring the Future Potential of AI-Enabled Smartphone ProcessorsExploring the Future Potential of AI-Enabled Smartphone Processors
Exploring the Future Potential of AI-Enabled Smartphone Processorsdebabhi2
 
MINDCTI Revenue Release Quarter One 2024
MINDCTI Revenue Release Quarter One 2024MINDCTI Revenue Release Quarter One 2024
MINDCTI Revenue Release Quarter One 2024MIND CTI
 
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024The Digital Insurer
 
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...apidays
 
Artificial Intelligence: Facts and Myths
Artificial Intelligence: Facts and MythsArtificial Intelligence: Facts and Myths
Artificial Intelligence: Facts and MythsJoaquim Jorge
 
The 7 Things I Know About Cyber Security After 25 Years | April 2024
The 7 Things I Know About Cyber Security After 25 Years | April 2024The 7 Things I Know About Cyber Security After 25 Years | April 2024
The 7 Things I Know About Cyber Security After 25 Years | April 2024Rafal Los
 
Top 5 Benefits OF Using Muvi Live Paywall For Live Streams
Top 5 Benefits OF Using Muvi Live Paywall For Live StreamsTop 5 Benefits OF Using Muvi Live Paywall For Live Streams
Top 5 Benefits OF Using Muvi Live Paywall For Live StreamsRoshan Dwivedi
 
presentation ICT roal in 21st century education
presentation ICT roal in 21st century educationpresentation ICT roal in 21st century education
presentation ICT roal in 21st century educationjfdjdjcjdnsjd
 
A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?Igalia
 
Artificial Intelligence Chap.5 : Uncertainty
Artificial Intelligence Chap.5 : UncertaintyArtificial Intelligence Chap.5 : Uncertainty
Artificial Intelligence Chap.5 : UncertaintyKhushali Kathiriya
 
Why Teams call analytics are critical to your entire business
Why Teams call analytics are critical to your entire businessWhy Teams call analytics are critical to your entire business
Why Teams call analytics are critical to your entire businesspanagenda
 
Top 10 Most Downloaded Games on Play Store in 2024
Top 10 Most Downloaded Games on Play Store in 2024Top 10 Most Downloaded Games on Play Store in 2024
Top 10 Most Downloaded Games on Play Store in 2024SynarionITSolutions
 
How to Troubleshoot Apps for the Modern Connected Worker
How to Troubleshoot Apps for the Modern Connected WorkerHow to Troubleshoot Apps for the Modern Connected Worker
How to Troubleshoot Apps for the Modern Connected WorkerThousandEyes
 
Scaling API-first – The story of a global engineering organization
Scaling API-first – The story of a global engineering organizationScaling API-first – The story of a global engineering organization
Scaling API-first – The story of a global engineering organizationRadu Cotescu
 
Real Time Object Detection Using Open CV
Real Time Object Detection Using Open CVReal Time Object Detection Using Open CV
Real Time Object Detection Using Open CVKhem
 

Recently uploaded (20)

🐬 The future of MySQL is Postgres 🐘
🐬  The future of MySQL is Postgres   🐘🐬  The future of MySQL is Postgres   🐘
🐬 The future of MySQL is Postgres 🐘
 
AWS Community Day CPH - Three problems of Terraform
AWS Community Day CPH - Three problems of TerraformAWS Community Day CPH - Three problems of Terraform
AWS Community Day CPH - Three problems of Terraform
 
Strategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
Strategize a Smooth Tenant-to-tenant Migration and Copilot TakeoffStrategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
Strategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
 
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost Saving
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost SavingRepurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost Saving
Repurposing LNG terminals for Hydrogen Ammonia: Feasibility and Cost Saving
 
TrustArc Webinar - Stay Ahead of US State Data Privacy Law Developments
TrustArc Webinar - Stay Ahead of US State Data Privacy Law DevelopmentsTrustArc Webinar - Stay Ahead of US State Data Privacy Law Developments
TrustArc Webinar - Stay Ahead of US State Data Privacy Law Developments
 
Exploring the Future Potential of AI-Enabled Smartphone Processors
Exploring the Future Potential of AI-Enabled Smartphone ProcessorsExploring the Future Potential of AI-Enabled Smartphone Processors
Exploring the Future Potential of AI-Enabled Smartphone Processors
 
MINDCTI Revenue Release Quarter One 2024
MINDCTI Revenue Release Quarter One 2024MINDCTI Revenue Release Quarter One 2024
MINDCTI Revenue Release Quarter One 2024
 
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
 
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
Apidays Singapore 2024 - Building Digital Trust in a Digital Economy by Veron...
 
Artificial Intelligence: Facts and Myths
Artificial Intelligence: Facts and MythsArtificial Intelligence: Facts and Myths
Artificial Intelligence: Facts and Myths
 
The 7 Things I Know About Cyber Security After 25 Years | April 2024
The 7 Things I Know About Cyber Security After 25 Years | April 2024The 7 Things I Know About Cyber Security After 25 Years | April 2024
The 7 Things I Know About Cyber Security After 25 Years | April 2024
 
Top 5 Benefits OF Using Muvi Live Paywall For Live Streams
Top 5 Benefits OF Using Muvi Live Paywall For Live StreamsTop 5 Benefits OF Using Muvi Live Paywall For Live Streams
Top 5 Benefits OF Using Muvi Live Paywall For Live Streams
 
presentation ICT roal in 21st century education
presentation ICT roal in 21st century educationpresentation ICT roal in 21st century education
presentation ICT roal in 21st century education
 
A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?A Year of the Servo Reboot: Where Are We Now?
A Year of the Servo Reboot: Where Are We Now?
 
Artificial Intelligence Chap.5 : Uncertainty
Artificial Intelligence Chap.5 : UncertaintyArtificial Intelligence Chap.5 : Uncertainty
Artificial Intelligence Chap.5 : Uncertainty
 
Why Teams call analytics are critical to your entire business
Why Teams call analytics are critical to your entire businessWhy Teams call analytics are critical to your entire business
Why Teams call analytics are critical to your entire business
 
Top 10 Most Downloaded Games on Play Store in 2024
Top 10 Most Downloaded Games on Play Store in 2024Top 10 Most Downloaded Games on Play Store in 2024
Top 10 Most Downloaded Games on Play Store in 2024
 
How to Troubleshoot Apps for the Modern Connected Worker
How to Troubleshoot Apps for the Modern Connected WorkerHow to Troubleshoot Apps for the Modern Connected Worker
How to Troubleshoot Apps for the Modern Connected Worker
 
Scaling API-first – The story of a global engineering organization
Scaling API-first – The story of a global engineering organizationScaling API-first – The story of a global engineering organization
Scaling API-first – The story of a global engineering organization
 
Real Time Object Detection Using Open CV
Real Time Object Detection Using Open CVReal Time Object Detection Using Open CV
Real Time Object Detection Using Open CV
 

Unit 1 academic basic economics