Economics Introduction
Published on Nov 23, 2015
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MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
ECONOMICS
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Economics:
THE STUDY OF HOW PEOPLE CHOOSE TO USE THEIR LIMITED RESOURCES TO SATISFY THEIR UNLIMITED WANTS
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ADAM SMITH
A POLITICAL ECONOMIST & PHILOSOPHER WHO WAS AMONG THE FIRST TO CONSIDER THIS QUESTION IN DEPTH
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ADAM SMITH
published 1776: Competition is key to a healthy economy
economy
A SYSTEM USED TO MANAGE LIMITED RESOURCES FOR THE PRODUCTION, DISTRIBUTION, AND CONSUMPTION OF GOODS AND SERVICES
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every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life
ADAM SMITH, -WEALTH OF NATIONS-
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WHAT IS ECONOMICS ALL ABOUT?
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Perhaps it's "about stripping a layer or two from the surface of modern life and seeing what is happening underneath"
-LEVITT AND DUBNER, -FREAKONOMICS-
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economic enigmas
ARE PUZZLES OR RIDDLES THAT MIGHT BE EXPLAINED THROUGH AN ECONOMIC ANALYSIS
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one theory says it made it harder for clerks to pocket the bill
ONE ANSWER
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NOT ALL ECONOMISTS THINK OF THE JOB AS AN INVESTIGATION OF ENIGMAS
but MOST AGREE ABOUT ASKING QUESTIONS TO REVEAL ANSWERS
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