FOUNDATION COURSE PAPER - 3 Study Note - 1 BASIC CONCEPTS OF ECONOMICS 1.1 DEFINITION AND SCOPE OF ECONOMICS There are 4 definitions of Economics. (1) Wealth Definition:…

06/05/10 1 Dedication This presentation is dedicated to Students Of BICSE -7 06/05/10 2 Non-technical skills and knowledge areas that an engineer should acquire 06/05/10…

Business Economics 1 What is economics? study of how people choose to use resources. Resources include the time ,talent of people, the land, buildings, equipment, and other…

MICRO ECONOMICS ECONOMICS Uses of scare resources in order to get maximum satisfaction is said to be Economics. OR An Economics is a mechanism that allocates scare resources…

Section - I ECONOMICS ECONOMICS A1 Basic Concepts of Economics Study Note - 1 BASIC CONCEPTS OF ECONOMICS This Study Note includes • • • • • • • Definition…

INTRODUCTION TO ECONOMICS Introduction: The term “Economics” is originally derived from the ancient Greek Word “Oiks” which means household and “Nemein” which…

1. MEFA NOTESUNIT-I INTRODUCTION 3. Economics as Science of ScarcityKnowledge of economics is helpful toHere there are two important definitions to bemanagers, engineers…

Slide 1Chapter 1 - Managerial Decision Making Takesh Luckho Slide 2 What is Economics? ECONOMICS is the study of how society decides: What How For whom to produce... Slide…

1.EconomicsAn introduction 2. Economic activity 3.   4.   5.   6.   7.   8. Why study economicsWhy the world is what it is….. Soviet Union collapsed …. setting countries…

Course: BBA Subject: Business Economics Unit: I The word Economics is derived from the Greek words âOKIOS NEMEINâ meaning household management . Man is bundle of desires.…