Wednesday, March 7, 2012

INTRODUCTION TO ECONOMIC


1.  ECONOMIC?
·         Social science
·         Allocation of scarce
·         Maximizing satisfaction

2.  RESOURCES :
a)      Land
b)      Labour
c)      Capital
d)      Enterpreneurship

3.  BASIC ECONOMIC CONCEPT :
·         Scarcity
·         Choice
·         Opportunity cost

4.  ECONOMIC  SYSTEM :
a)      Traditional economy
b)      Market economy
c)      Command economy
d)      Mixed economy


 
 

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