02/03/2017
Today, I'll talk about Principles of Economics
"A good definition of economics"
-- We study of choice under conditions of scarcity --
>>> Scarcity : situation in which the amount of something available is insufficient to satisfy the desire for it
The problem for society is a scarcity of resources
>>>Scarcity of Labor
Time human beings spend producing goods and services
>>>Scarcity of Capital
Something produced that is long-lasting, and used to make other things that us value
- Human capital
- Capital stock
>>>Scarcity of land
Physical space on which production occurs, and the natural resources that come with it
>>>Scarcity of entrepreneurship
Ability and willingness to combine the other resources into a productive enterprise
Microeconomics
--- Study of behavior of individual households, firms, and governments ---
- Choices they make
- Interaction in specific markets
Macroeconomics
Study of the economy as a whole
Satisfy : ทำให้พอใจ
Desire : ปราถนา,โหยหา,ต้องกา
entrepreneurs : ผู้ประกอบการ
enterprise : วิสาหกิจ
Vi = intransitive verb, It doesn't allow an object.
Vt = transitive verb, It's a verb that requires one or more objects.
Thursday March 2017
