DEFINITION NATURE AND SCOPE OF ECONOMICS ____________________________________________________________ _______________________________________ 19 ____________________________________________________________ _____________________________________ DEFINITION OF ECONOMICS Economics is social science‚ which is concerned with the efficient use of scarce resources to achieve the maximum satisfaction of economic wants. A basic understanding of economics is essential for well-informed people
Free Economics
The Basic Economic Problem: Scarcity and Choice Tuesday‚ September 13‚ 2011 by Geoff Riley It is often said that the central purpose of economic activity is the production of goods and services to satisfy our changing needs and wants. The basic economic problem is about scarcity and choice. Every society has to decide: What goods and services to produce: Does the economy uses its resources to operate more hospitals or hotels? Do we make more iPhones and iPads or double-espressos? Does the
Premium Economics
05 MBA 12 Managerial economics No. of Lecture Hrs / Week : 04 Total No. of Lecture Hrs : 56 MODULE 1 IA Marks : 50 Exam Hours : 3 Hours Exam Marks : 100 7 HOURS Introduction of Economics: Managerial Economics – Nature‚ Scope & Significance‚ Role of Managerial Economist in decision-making – Relationship of Managerial Economics with functional areas of business MODULE 2 7 HOURS Fundamental Principles/Concepts of Managerial Economics: Opportunity Costs‚ Incremental‚ Time perspective
Premium Economics Supply and demand
248 THE FUTURE OF ISLAMIC ECONOMICS Muhammad Akram Khan In view of the economic problems of the present age and the inability of neoclassical economics to analyse them and suggest acceptable solutions‚ Islamic economics holds promise for the future. This article consists of four parts. The first introduces the Islamic worldview and economic objectives of Islam. The second part argues that only Islamic economics has the potential to respond to the economic problems of the future. Part three sheds
Premium Economics
w w w e tr .X m eP UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Subsidiary Level and GCE Advanced Level e ap .c rs om MARK SCHEME for the October/November 2009 question paper for the guidance of teachers 9708 ECONOMICS 9708/22 Paper 22 (Data Response and Essay – Core)‚ maximum raw mark 40 This mark scheme is published as an aid to teachers and candidates‚ to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award
Premium Public good Cost Supply and demand
Unit-1 Q1. Define micro and macro economics‚ Distinguish between them‚ and explain the scope‚ importance and its limitations Ans. modern economy analysis has been divided into two major branches that is micro and macro economics. Micro economics means the economics system which deals individual economics unit on the other hand macro economics means the economics unit which deals aggregate as a whole that is national income‚ general employment‚ and total out –put‚ general price level etc. These two
Premium Economics Keynesian economics Macroeconomics
EXMBA 2012-14 Sem-2 Economic Environment of Business Faculty : Ms Simirit Kaur Project Report on Major obstacles to India s growth Submitted By: Harish Kumar (S-25) Manoj Paweria (S-36) Kumar Sikander (S-76) ACKNOWLEDGEMENT We owe a great many thanks to a great many people who helped and supported me during assignment . Our deepest thanks to professor‚ Ms. Simrit Kaur for assisting us at every stage of this project from the objectives‚ techniques and analysis to fine-tuning our entire
Free Tax Public finance Deficit
THE METAPHORIC DIMENSION OF ECONOMIC TEXTS The Translation of Economic Metaphors The paper aims at presenting the main types of the most commonly used English economic metaphors‚ focussing on the translation strategies that could be used for rendering them into Russian. Introduction. The problem of translation acquires a tremendous importance not only in fiction‚ but also in non-fictional texts‚ especially those are related to newly developed or upcoming areas of human activity‚ such as the
Premium Economics Metaphor
Introduction * Definition Of Tourism * Economic Significance Of Tourism * Price And Income Elasticity * The Economic Impacts Of Tourist Spending * Foreign Exchange * Employment * Tourism Income Multiplier * Regional Development * Cultural Resource * International Understanding * Conclusion * References INTRODUCION Today‚ tourism is one of the largest and dynamically developing sectors of external economic activities. Its high growth and development
Premium Tourism Economics Economy
1. Liza needs to buy a textbook for the next economics class. The price at the college bookstore is $65. One online site offers it for $55 and another site‚ for $57. All prices include sales tax. The accompanying table indicates the typical shipping and handling charges for the textbook ordered online. Shipping method | Delivery time | Charge | Standard shipping | 3–7 days | $3.99 | Second-day air | 2 business days | $8.98 | Next-day air | 1 business day | $13.98 | a. What is the
Premium Economics Great Depression