Applied Economics Second Quarter Lesson.pptx

Lesson in Applies Economics

1. Applied Economics GRADE 12

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3. 2 words, 1st word 3 letters, 2nd words 5 letters

4. In order to be successful in whatever venture you want to happen in your life. We are guided by the so called principles . What do you mean by the word principles ?

5. 10 Principles in Creating a Business

6. A principle is a kind of rule, belief, or idea that guides you. a basic idea or rule that explains or controls how something happens or works; a standard or rule of personal conduct

7. Scalability Big ideas Systems Sustainability Growth Vision Purpose Autonomy Profitability Standards

8. Scalability - refers to an organization's ability to grow without being hampered by its structure or available resources when faced with increased production whether in a financial context or within the context of business strategy. Big ideas - greater opportunities, in creating your business big ideas plays a vital role, adopting to abrupt changes, planning and aligning people to fit in the business. Every business begins with an idea. Business ideas come from many sources. Hobbies, interests, and business experiences often give people ideas for new business.

9. Systems - recognizing small and big parts contributes success and failures to the business, everybody should fit in from the owner to its employee, resources and equipment. Sustainability - a business must be powerful able to harness all economic conditions, in all market settings, providing positive and meaningful quality results to its customers.

10. Growth - all business need to be growing especially in the internal aspect of business. Vision – What do you want your business to be in the future, your very purpose in creating a business, vision plays a vital role as it is your guide in planning.

11. Profitability – a business help economic entity, managing economic reality, creating an economic certainty for the communities in which it thrives. Standards - a business creates standard against all businesses measured as either successful or not. In order a business will go beyond, aim high beyond the existing standard.

12. Purpose – a business is the results of a big dream in mind of the person who dream for it. Autonomy- A business if not part of the owner’s life, but in fact, its own entity. A business possesses a life of its own. Many start-up business owners are quite independent. Their businesses were started because they do not want to take direction from other people. A business is difficult to start, however, without the help of others.

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