Published on CourseNotes (https://course-notes.org)

Home > Study Guide Ch. 1 and 2

Study Guide Ch. 1 and 2

Subject: 
Economics [1]
Rating: 
0
No votes yet
SocialTags: 
Digital media [2]
Human–computer interaction [3]
Information Age [4]
World Wide Web [5]
CNote [6]
Internet [7]
Humanities [8]
Technology [9]

Define Economics. Social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity. What is scarcity? How is it related to the study of economics? Scarcity is the limitation of resources. This is related to the study of economics because economics is studying how people make decisions based on their unlimited wants with limited resources (scarcity). List the factors of production with an example of each. Factors of Production Land (ex. Forests, oil wells, rivers, ocean) Labor (ex. Professional athlete, lawyer, salesmen) Capital (ex. Factory, transportation, storage, tools) Technology (ex. Phones, laptops, lawn mowers) Management (ex. Organazation/regulation)

Wait just a minute here...

In order to access these resources, you will need to sign in [10] or register [11] for the website (takes literally 1 minute!) and contribute [12] 10 documents to the Course-Notes.Org library. Until you contribute 10 documents, you'll only be able to view the titles of the uploaded documents.

  • Unlock Course-Notes.org

    Gain access to members only, premium content that includes past essays, DBQs, practice tests, term papers, homework assignments and other vital resources for your success!

  • Interact with other members

    Receive feedback from the Course-Notes.Org community on your homework assignments

  • Participation = Points

    Earn points for by contributing documents to the library, helping other members, writing informative blog posts, and voting in polls!

There are over 10,000 documents that have been added to the Members Only section that you won't find anywhere on this site or on the interwebs, for that matter. In order to access these resources, you will need to register [11] for the website (takes literally 1 minute!) and earn 100 cnote$ (use the table above to figure that out). Until you contribute earn 100 cnote$, you'll only be able to view the titles of the uploaded documents and some teaser text.

Get started right now! [11]

Source URL:https://course-notes.org/economics/premium/study_guide_ch_1_and_2#comment-0

Links
[1] https://course-notes.org/subject/economics [2] https://course-notes.org/taxonomy/term/1039057 [3] https://course-notes.org/taxonomy/term/1039046 [4] https://course-notes.org/taxonomy/term/1039047 [5] https://course-notes.org/taxonomy/term/1039048 [6] https://course-notes.org/taxonomy/term/1039049 [7] https://course-notes.org/taxonomy/term/1039060 [8] https://course-notes.org/taxonomy/term/1038961 [9] https://course-notes.org/taxonomy/term/1038947 [10] https://course-notes.org/user [11] https://course-notes.org/user/register [12] https://course-notes.org/node/add/upload/bulk