Professional Documents
Culture Documents
JAMESON ESTRADA
Pangasinan State University
A. Definition of Economics
B. Importance of Economics
C. Microeconomics vs. Macroeconomics
D. Nature of Economic Choice (Scarcity and Opportunity Cost)
E. Economic Activities
F. Economic Resources
G. Economic Goals
H. Fundamental Economic Problems / Questions
I. Types of Economic System
J. Economic Models
K. Ceteris Paribus
L. Normative and Positive Economics
M. Scientific Method
N. Circular Flow Model
O. The Production Possibility Frontier
P. Graphs
Q. Linear Relationship
Economics involves
Microeconomics
A branch of economics which is concerned
with the behavior of individual entities such as
markets, firms, and households.
Macroeconomics
A branch of economics which is concerned
with the overall behavior and performance of
the economy as whole.
Microeconomics studies
Buying decisions of the individual
Consumers’ satisfaction
Buying and selling decisions of the firm
The determination of prices and in markets
The quantity, quality and variety of products
Profits
Macroeconomics studies
Economic growth
Unemployment and inflation
Aggregate demand and aggregate supply
Economic policies – fiscal and monetary
International trade – exports and imports
Money supply
1. Factory worker
2. Company’s CEO
3. Assembly plant
4. Industrial robots
5. Mineral deposits
Land
Labor
Capital
Entrepreneurship
1. Economic efficiency
2. Economic growth and economic development
3. Economic freedom
4. Economic security
5. Equitable distribution of income
6. Full employment
7. Price level stability
8. Reasonable balance of trade
1. What to produce?
2. How to produce?
3. For whom to produce?
1. Traditional Economy
2. Market Economy
3. Command Economy
4. Mixed Economy
1. Private Property
2. Freedom of Enterprise or Choice
3. Self-interest
4. Competition
5. Markets and Prices
6. Technology and Capital Goods
7. Specialization
8. Use of Money
9. Active, but Limited, Government
Capital Consumer
Combination
Goods Goods
A 160 0
B 140 40
C 80 80
D 0 100
Number of
88, 10%
Month Android Tablets
125, 15% Sold
January 88
76, 9% February 76
March 100
78, 9% April 67
May 55
100, 12% June 60
68, 8% July 40
August 45
September 56
56, 6% 67, 8% October 68
November 78
45, 5% 55, 6% December 125
40, 5%
60, 7%
125
120 January 88
100 February 76
100 88
March 100
76 78
80 68 April 67
67
60 56 May 55
60 55
45 June 60
40
40 July 40
20 August 45
September 56
0
October 68
November 78
December 125
Month
125 Sold
120
January 88
100 100
February 76
March 100
88
80 78
April 67
76
67 68 May 55
60 60 June 60
55 56
45 July 40
40 40 August 45
September 56
20
October 68
0 November 78
December 125
Month