Module: Five: Introduction to Economics...

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DO IT-VIRTUAL-UNIVERSITY
5.2-Production!
School of Business and Applied
Management Economics In a cycle flow of life, [1] the atmosphere, provides rain the earth’s surface [Literally it
Feds the ground] [2]-the ground Feeds plants [note plants are fixed on the ground with
>>[MODULE:-Five]<< their roots absorbing water from the ground, and [3]- the plants are harvested and feed
on by animals Humans inclusive. When animals and plants die, they contribute to the
atmosphere and grounded earth. From the above production is a natural process.
FIG:2
5.0-Learning objectives!

To understand Economics. 1- 2- 3- 1-
Atmosphere Solid Earth Plants Animals
Economics cannot be understood without understanding the cause for scarcity. What is Rain Matter
scarce is the heat and energy from the sun, Economics is the struggle for Food, sex and
shelter among humans.

Non-Living The-Living
5.1-Introduction!

Economics, A branch of knowledge concerned with the production,

consumption and transfer of wealth. Production is the process of turning
Liquids to Gases or Gases to Liquids, facilitated by the sun. The amount of The fact that non-living things feed the living , Production is the relationship between
heat and light received from the sun is uneven given the shape the distance the atmoshpere, the Earth , plants and animals
from the sun to the earth. Some areas receive more sun light than others
making them more productive. In a struggle to survive the sun becomes a
scarce resource. This doesn't make sense to a Ugandan because here the FIG:3
sun is abundant. Making it very hard to understand economics
SUN
North Pole
FIG:1
0 15 25 50 100 100 50 25 15 0

Atmospher
Heat & Light

Animals
Plants
West East
SUN
Direction of the Sun Earth

Core Center of Earth

South Pole
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Economics 5.4--Politics!

Politics is when lie become necessary. The facts are communicated in cam era.The
inequality in production in the tropics led to migrations [read Luo, Ngoni and other
migrations while in the Temperate regions it led to war and conflict. And this led to
5.3-Factors of production! creation of states, countries and regions of governance which was extended to the
tropics up to today
The factors of production are not universal but instead are dependant on
where the person is [briefly explain why colonial economics has not enabled 5.5-Consumption!
africa to develop] a bodmas degree is a useless to the national and the
graduate him self.. FIG:4
The amount of heat received from the sun will determine the number of
plants growing on the surface and the number of animals that can live
SUN
FIG:3 SUN
Low Temperature
North Temperate Region
3-
Solid Gas Shelter
The Sun 2-
Equat Solid Gas
Tropical Region/ + - Sex
1-
Visible InVisibl Food
South Temperate Region
Low Temperature MAN
Liquid

Consumption is the using up of a resource i.e the eating , the drinking , or ingesting of
Tropical factors [Boasmas] are:- something. Under the sun its compulsory for all living things to lose energy in to the
atmosphere. Thus despite the indifference in supply consumption is a constant factor.
1-Knowldge
2-The Sun
3-The atmosphere [Rain] 5.6-Distribution!
4-Land
5-Plants FIG:5

Observations
All the above are natural advantages

Temperate factors [Bodmas] are:-

1-Land [in the tropics] Justify colonialism

2-Labour [ in the tropics] Justify slave trade
3-Capital [justify politics]
4-Entreprenuership [justify bodmas science in the tropics
Observations
All the above are natural dis-advantages
Distribution, is the action of sharing something out among a number of recipients or the
way in which something is shared out among a group or spread over an area. Europe
was fast and smart in sharing tropical resources to its advantage but its not too let the
sun remains
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Economics 5.9-Gross domestic product!

The amount of land under the jurisdiction of a given person, family or state determines
the amount of plants and animals he or she owns provided the other factors remain
constant . The other factor is the sun
5.7-Territorial Economics!

FIG:8 SUN
FIG:6 Territorial Economics, is
PLOT territorial Production,
Consumption and
distribution. A territory is an
Atmosphere-Resource
area of land under the
ACRE jurisdiction of a ruler or state
or country today there are 167 0 1 2 3 4 5 6 7 8 9 1011 12 13 14 15
Physical area
territories under the in decimal, plot acre
jurisdiction of national GDP
presidents. Land
The smallest unit of land is a usage Ground-Resource
decimal, plot , acrea,

5.8-Trade-Demand and supply! 5.10-Gross national product!

FIG:7
The amount of rain received from the atmosphere under the jurisdiction of land owned
by a person , family or state determines ones or a country’s Gloss national product
provided other factors remain constant. The other factor being the sun

SUN
I [man] We [Family] State [Country] FIG:9

My [Plot] Our [Acre] Our country

Atmospheric Resouce
GNP
Rain-Usage
Territorial production limits free access to resources not in ones territory, a
territory is plot of land , acre of land or a state and thus the need for Physical area in meters

exchanging what you have with what you don't have. Trade is an upgrade
from force and raids and with regional laws force is stealing and attracts a
penalty. Under trade, supply remains natural because it's the supply of the Ground resource
sun leading to natural resources and demand also is natural due to the sun
and its effects. The role of man in trade in identify natural advantages, and
distribute among the disadvantaged and in return acquire what he doesn't
have.
Territorial economics makes all of us to be business people where buying
and selling is the order of the day reason the laws of the land limits how much Gross is unattractively large or bloated area, large scale of something not final.
we can own in terms of matter Domestic, existing or occurring inside a particular area or country, not foreign and
National, of or relating to a nation, Product:- a thing or person that is the result of an
action or chemical process
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Economics 5.13-Macro-Economics!

Macro economics is the study of matter at 18 and its variations under the sun as of
solids or of what we see the physical matter. Macro is large scale production of physical
products -economics is physical economics, macro economic indicators relate to GDP,
5.11-Economic Growth!
FIG:12 SUN
Is the increase in the amount of the goods and services produced by an
economy over time, measurable as the percentage increase in land owned
or leased [GDP]. Land increment with knowledge is automatic GNP
Increment

FIG:10 Matter

0 1 2 3 4 5 6 7 8 9 1011 12 13 14 15 16 17 18
Atmosphere-Resource

0 1 2 3 4 5 6 7 8 9 1011 12 13 14 15 5.14-Micro-Economics!
Physical area
in decimal, plot acre

GDP Macro-economics is the study of the invisible or chemical gases .Micro is something
Land extremely small [Gaseous] biological, atmospheric, the amount of physical elements in
usage Ground-Resource a solid determine the nature of the gas the more the better the gas a decificiecy in a
solid is a deficiency in a gas

Physical economics automatically shapes up chemical economics

5.12-Economic Development!
FIG:13
Economic development, refers to a sustained increment in the quantitative Gases Gases Heat/
and qualitative changes in the economy

FIG:11 SUN SUN

GNP Atmospheric Resource

Rain-Usage
Solid/Liquid Atmospheric/

GDP Ground-Resouce Macro-economics is a branch of economics [production, consumption and distribution]

Land Usage that studies the behaviour of individual households and firms in the making of decisions
on the allocation of limited resources. Typically it applies to markets where goods or
services are bought and sold. It examines how these decisions and behaviour affect the
supply and demand for goods and services , which determines prices and how prices in
turn determine the quantity supplied and quantity demanded of goods and services
Did you know that uganda does not own a land title? Instead Britain does!
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Economics 5.17-Pre-condition to take off!

Characterised by
5.15-Stages of Economic Growth! [1] -external demand for raw materials initiates economic change
[2]-development of more productive , commercial agriculture and cash crops not
consumed by producers and or large exported
FIG:14 [3]-wide spread and enhanced investment in changes to the physical environment to
2-Pre condition to take off expand production
[4]- increasing spread of technology and advances in existing technologies
SUN [5]-changing social structure with previous social equiblium now in flux
[6]-individual social mobility begins
[7]-development of national identity and shared economic interest

Matter
5.18-Take off!

Characterised by
0 1 2 3 4 5 6 7 8 9 1011 12 13 14 15 16 17 18
[1]- manufacturing begins to rationalize and scale increases in a few leading industries
as goods are made both for export and domestic consumption
1-Traditonal society 3-Take off 4-Drive 5-Age of Mass
[2]-the secondary [goods producing] sector expands and ration of secondary Vs
To maturity Consumption
primary sectors in the economy shifts quickly towards secondary

5.19-Drive to maturity!
Rostow’s stages of growth model is one of the major historical models of
Economic growth [increasing production, consumption and distribution of
products]. The model postulates that economic growth occurs in five basic
stages, of varying length
5.16-Traditional society!
Characterised by
[1]- diversification of the industrial base, multiple industries expand and new ones take
root quickly
[2]-manufacturing shifts from investment driven [capital goods] towards consumer
durables and domestic consumption
[3]-rapid development of transportation infrastructure
[4] Large scale investment in social infrastructure [schools, universities and hospitals]

5.20-Age of mass consumption!

A tradition, is the transmission of customs or beliefs from generation to

generation, a traditional society is characterised by [1]-subsistence Characterised by
agriculture or hunting and gathering, almost wholly a primary sector
economy. [2]-limited technology and [3] a static or rigid society with lack of [1]-the industrial base dominates the economy, the primary sector is of greatly
class or individual economic mobility with stability priotized seen diminished weight in economy and society
negatively [2] widespread and nomative consumption of high value consumer goods [e.g
automobiles]
[3] consumers typically [if not universally] have disposable income beyond all basic
needs for additional goods