Economics 101. What is Economics? The study of how a society uses it’s resources to produce and distribute goods and services, satisfying wants and.
Chapter 20 Consumer Choice. Copyright © 2008 Pearson Addison Wesley. All rights reserved. 20-2 Introduction There have been shifts in air travel away.
ECONOMICS What does it mean to me? Part I: Eleven Powerful Ideas of EconomicsEleven Powerful Ideas of Economics READ Krugman Section 1, Module 1 Mankiw.
Fundamental Economic Concepts. I WON THE LOTTERY! I’ll give you anything you want other than money. What do you want? Would your list ever end? Why not?
Fundamental Economic Concepts. What is Economics? - The study of mankind’s unlimited desires in a world of limited resources. - Economics is a social.
Room 214 World History Cook/Crayne. Day #1- Reminders Today’s Date is on the power point in front. yellow makeup box in the back of the room.On the day.
Fundamental Economic Concepts
Quaternary Economic Activities The sector of the economy that consists of intellectual activities such as government, culture, libraries, scientific research,
PUMP PRIMER What do you think of when you hear the term “economics?”What do you think of when you hear the term “economics?” (Carper, 1)
INTRODUCTION TO ECONOMICS
C H A P T E R 1 What Is Economics?. Economics Economics is determining how to satisfy unlimited wants with limited resources. For example: –You must choose.
Chapter 20 – Consumer Choice