A Lecture presentation in powerpoint to Accompany Principles of Economics Second Edition N. Gregory Mankiw Prepared by Mark P Karscig, Department of Economics Finance, Central Missouri State University. Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. A Lecture Presentation in PowerPoint to Accompany Principles of Economics Second Edition by N. Gregory Mankiw Prepared by Mark P. Karscig, Department of Economics & Finance, Central Missouri State University
Ten Principles of Economics Chapter 1 Copyright o 2001 by Harcourt, Inc All rights reserved. Requests for permission to make copies of any part of the work should be mailed to Permissions Department, Harcourt College Publishers 6277 Sea harbor Drive. Orlando Florida 32887-6777
Ten Principles of Economics Chapter 1 Copyright © 2001 by Harcourt, Inc. All rights reserved. Requests for permission to make copies of any part of the work should be mailed to: Permissions Department, Harcourt College Publishers, 6277 Sea Harbor Drive, Orlando, Florida 32887-6777
Economy. The word economy comes from a Greek word for one who manages a household. Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Economy. . . . . . The word economy comes from a Greek word for “one who manages a household
A household and an economy face many decisions Who will work? What goods and how many of them should be produced? What resources should be used in production? At what price should the goods be Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. A household and an economy face many decisions: Who will work? What goods and how many of them should be produced? What resources should be used in production? At what price should the goods be sold?
Society and Scarce Resources The management of societys resources is important because resources are scarce. Harcourt, Inc. items and derived items copyright o 200l by harcourt, Inc
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Society and Scarce Resources: The management of society’s resources is important because resources are scarce