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3 Cards in this Set
- Front
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Definition of Economics |
The1 academic 2discipline of the social 3science dealing with the 4allocation of 5scarce resources for 6human development and needs |
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Definition of economics broken down The academic discipline of the social science dealing with the allocation of scarce resources for human development and needs
Scarce v. Limited resources |
1. Won't prepare you for a job; meant for analyizing and learning 2. ? (Find out) 3. Measurement and catagorization 4. Who, what, where, when of resources 5. Scarce resources -a)Resources-anything that exists and can be -used -b)Scarce Resources-Resources that are limited -enought that not everyone can get all they want -at no cost -c) Limited v Scarce --Item can be limited without be scarce --Ex) air is limited (limited supply), but not scarce --(we can get all we want without worrying of --- --limited supply) 6. Human development-only concerned with human development and not other development |
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