Slide 1 Slide 2 SWS © 2011 1 MIDTERM (UNITS 1-8) Slide 3 SWS © 2011 2 Economics defined Economics is defined as the social science primarily concerned with the problems…

Slide 1The Foundation of Economics Obj: 1. Students will understand how scarcity drives all decision-making 2. Students will understand opportunity cost and how it is calculated…

Slide 1 ECONOMICS What does it mean to me? Part I: The Ten Powerful Ideas of EconomicsThe Ten Powerful Ideas of Economics Slide 2 ECONOMICS: The study of the allocation of…

Slide 1 Slide 2 The Foundation of Economics Slide 3 What is Economics?  Economics is the branch of knowledge concerned with the production, consumption and transfer of…

Slide 1 IB Economics What is Economics? Slide 2 Section One Structure Unit one has four core sub-topics and one HL extension The foundation of Economics is an introduction…

Slide 1 Slide 2 2 - 1 Copyright McGraw-Hill/Irwin, 2002 The Foundation of Economics Employment and Efficiency Unemployment, Growth, and the Future Economic Systems The Circular…

Slide 1 ECONOMICS What does it mean to me? The Ten Powerful Ideas of EconomicsThe Ten Powerful Ideas of Economics Slide 2 ECONOMICS: The study of the allocation of our scarce…

Slide 1 Slide 2 The Economizing Problem 2 C H A P T E R 1 Slide 3 The foundation of economics is the economizing problem: wants are unlimited while resources are limited…

PowerPoint Presentation The Foundation of Economics: Supply and Demand Analysis Demand Demand â represents how much of a good consumers are willing and able to purchase…

MICROECONOMICS Meaning Nature Scope Relationship with other disciplines Importance Outline What is Economics? Economics is the study of efficient use of scarce resources…