ECONOMICS Course Subject - TOPIC about Economics.pptx

ECONOMICS Course Subject - TOPIC about Economics.pptx

The needs and wants differences
Definition of Economics
Economics Role in Society

1. Economics ECONOMICS:CONCEPTS AND PRINCIPLES (WITH AGRARIAN REFORM AND TAXATION)

2. What is Economics? Economics as the study of the proper allocation and efficient use of scarce resources to produce commodities for the maximum satisfaction of unlimited human needs and wants.

3. ECO- NOMICS Gives an idea on how to “economize” as consumers and producers, that is, how get the most out of what we have.

4. Goals of economics

5. To strengthen economic freedom

6. ECONOMIC FREEDOM

7. These freedoms are not true if one is denied of his/her independence; an individual should have complete control of what to consume, his/her choice of work and where it is located, or which business to undertake.

8. A competitive market functions to protect the freedom and rights of consumers, workers, and producers. This protection is in the form of legal framework wherein free markets can operate to maintain competition, preserve high standards in goods and services and shield against fraud.

9. To promote economic efficiency

10. Efficiency Is producing more output with the use of fewer resources.

11. MODERN TECHNOLOGIES MANAGEMENT SKILLS

12. To promote economic stability

13. Stability Means there are no violent ups and downs in the economy. This goal is a consistent growth in a changing world, thus the movement of output of economy, employment and prices of goods and services should be kept at a reasonable ranges.

14. Economic freedom, efficiency and growth in the economy emanate mainly from the actions of individuals with government assistance in the form of legal framework and social institutions to protect them from market imperfections .

15. To promote economic security

16. To increase individual security has been important goal of economics. The continued existence of the market economy depends on this economic security, because incomes are established in the market place.

17. People with corresponding skills, capital and assets are sold in exchange for income, and the value of those agents depends on the worth of the final goods and services produced by them.

18. To attain a high level of growth in the economy

19. Economic growth Means that the capacity to produce goods and services is increasing, and it is growing more rapidly than the population.

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