CHAPTER 1 THE FUNDAMENTALS OF ECONOMICS I. CHAPTER OVERVIEW In this beginning chapter, basic economic concepts are discussed. The first part of this chapter has been designed…

Slide 11 Some Tools of Economic Analysis CHAPTER 2 © 2003 South-Western/Thomson Learning Slide 2 2 Opportunity Cost Scarcity forces us to make choices whenever you make…

Slide 1Expectations Show respect for others by listening when they are talking Always try your best and attempt everything Ask questions Respect your learning environment…

Slide 1Chapter 1 Slide 2 Economics assumes a few key things about the world around us…. 1. Societies face scarcity 2. Most activity is guided by personal gain 3. Societies…

1. MODULE B STUDY OF FINANCIAL STATEMENTS C.S.BALAKRISHNAN FACULTY MEMBER SPBT COLLEGE 2. Scope,Functions and objective Scope is Designing and implementing certain plans.…

Slide 1 Wealth Warm Up: How do you define Wealth??? Slide 2 Wealth-How do you define it??? Are these all pictures/illustrations of wealth??? Slide 3 NOPE!!!!! WEALTH is resources…

Slide 1 Slide 2 Slide 3 Slide 4 Slide 5 “ I believe myself to be writing a book on economic theory which will largely revolutionize—not, I suppose, at once but in the…

Slide 1T HINKING L IKE AN E CONOMIST Lecturer: Jack Wu Slide 2 IS THE ECONOMIST A SCIENTIST? Economics = queen of social science (Only Nobel Prize in Economics) Economics…

Chapter 2 â Decision Making & Systems ECONOMICS THEORY AND PRACTICE Seventh Edition Copyright © 2004 John Wiley & Sons, Inc. All rights reserved. PowerPoint Presentation…

Slide 1 Slide 2 Confronting Scarcity: Choices in Production The Production possibilities model is a model that shows the goods and services that an economy is capable of…