term1 Definition1term2 Definition2term3 Definition3
Please sign in to your Google account to access your documents:
Definition of Economics
The1 academic 2discipline of the social 3science dealing with the 4allocation of 5scarce resources for 6human development and needs
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
x
Need help typing ? See our FAQ (opens in new window)
Please sign in to create this set. We'll bring you back here when you are done.
Discard Changes Sign in
Please sign in to add to folders.
Sign in
Don't have an account? Sign Up »
You have created 2 folders. Please upgrade to Cram Premium to create hundreds of folders!