Economics 12808 http:students.resa.netmilewski - PowerPoint PPT Presentation

Loading...

PPT – Economics 12808 http:students.resa.netmilewski PowerPoint presentation | free to view - id: 114d14-NDM0N



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Economics 12808 http:students.resa.netmilewski

Description:

OBJECTIVE: First day of school administrative stuff. I. Welcome Back. II. Attendance ... NO SCHOOL: Boiler outage. Economics 2/1/08. http://students.resa.net/milewski ... – PowerPoint PPT presentation

Number of Views:46
Avg rating:3.0/5.0
Slides: 13
Provided by: CSDU9
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Economics 12808 http:students.resa.netmilewski


1
Economics 1/28/08 http//students.resa.net/milews
ki
  • OBJECTIVE First day of school administrative
    stuff.
  • I. Welcome Back ?
  • II. Attendance
  • III. Distribution of
  • -syllabus
  • -textbooks
  • IV. Homework

2
Estrada, Erik 09-224
  • New text

3
Important Stuff
  • Web-site
  • http//students.resa.net/milewski
  • Homework Due Friday 2/1/08
  • 1.) Book covered
  • 2.) Syllabus signed and returned
  • 3.) Read Ch1 sec1 p.4-10
  • -Answer questions (3-6) p.10
  • 4.) Read Ch1 sec2 p.12-17
  • -Answer questions (3-6) p.17

4
Economics 1/29/08http//students.resa.net/milewsk
i
  • OBJECTIVE Examine the fundamental economic
    problem the factors of production.
  • I. Journal 1 pt. A
  • -Read The Global Economy p.9
  • -Answer questions (1-3) p.9
  • II. Journal 1 pt. B
  • -notes on the fundamental economic problem
  • III. Homework due Friday 2/1/08
  • 1.) Book covered
  • 2.) Syllabus signed and returned
  • 3.) - Read Ch1 sec1 p.4-10
  • -Answer questions (3-6) p.10
  • 4.) - Read Ch1 sec2 p.12-17
  • -Answer questions (3-6) p.17

5
The Fundamental Economic problem is
  • Scarcity - the condition that results from
    society not having enough resources to produce
    all the things people would like to have.
  • Economics - the study of how people try to
    satisfy what appears to be seemingly unlimited
    competing wants through the careful use of
    relatively scarce resources.

6
Need v. Want
  • Need - a basic requirement for survival
    includes food, clothing, and shelter.
  • Want - a way of expressing need.

7
Scarcity
  • Since people have unlimited wants limited
    resources, scarcity leads to choices.
  • 1.) What to produce?
  • 2.) How to produce?
  • 3.) For whom to produce?

http//www.autolife.umd.umich.edu/Race/R_Overview/
Rouge_Plant.htm
Ford Rouge Plant
8
The Factors of Production
  • LAND the gifts of nature
  • LABOR people with all their efforts abilities
  • CAPITAL the tools, equipment, machinery, and
    factories used in the production of goods
    services
  • ENTREPRENEURS a risk taker in search of profits
    who does something new with existing resources

9
Goods Services
  • Goods - an item that is economically useful or
    satisfies an economic want
  • Services - work that is performed for someone
  • Consumer a person who uses goods services

10
Economics 1/30/08http//students.resa.net/milewsk
i
  • NO SCHOOL Power outage.

11
Economics 1/31/08http//students.resa.net/milewsk
i
  • NO SCHOOL Boiler outage.

12
Economics 2/1/08http//students.resa.net/milewski
  • NO SCHOOL Snow Day.
About PowerShow.com