introductiontoeconomicswithlandreformandtaxation-120813181047-phpapp02

7/25/2019 introductiontoeconomicswithlandreformandtaxation-120813181047-phpapp02

1/11

Introduction toEconomics with LandReform and Taxation

Prepared by: Anne Lauriz C. Acan

!or the "ationa Coe#e of $cience and Technoo#y

%stsemester &'%&(&'%)


2/11

Origin of Economics

The term economicscomes from theAncient Greek (oikonomia,"management of a household,administration") from (oikos,"house") + (nomos, "custom"or "law"), hence "rules of the

house(hold)

!ntroduction to Economics with and #eform and


3/11

A'A !T*


onsidered as the ather of Economics

*is -ook entitled Wealth of Nations.u-lished in &//0 -ecame thereference -ook of di1erent authors insol2ing .ro-lems


4/11

3O*4 A54A#' 6E54E


The ather of odern Economics

uggested that the go2ernment should

allocate a large amount of mone7.ur.osel7 for sol2ing .ro-lems ofde.ression


5/11

%hat is Economics8

'e9nitions of Economics as gi2en -7 di1erent writers:

A social science concerned with using scarce resources too-tain the ma$imum satisfaction of the unlimited materialwants of the societ7 (;ingham et al)

The science that deals with the acti2ities of man in o-tainingwealth for the satisfaction of his wants (astillo)

The science that deals with the euir7 a-out the nature and causes of the wealth ofnations (mith)



6/11


7/11

Economics as A ocial cience

!t is a social science -ecause it is thestud7 of social -eha2ior guiding in theallocation of scarce resourcesto meet

the unlimited needs and desires of theindi2idual mem-ers of a gi2en societ7

Economics seeks to understand how thoseindi2iduals interact within the social

structure to address ke7 >uestions a-outthe .roduction and e$change of goods andser2ices



8/11

once.ts of Economics

%ealth ? refers to an7 .ro.ert7 and asset of a.erson that ha2e a useful 2alue such as real estate,mone7, stocks and the likes

@roduct ? the creation of raw materials into 9nished

.roducts to satisf7 human wants E$change ? the .rocess of trading goods and ser2ices

for mone7

'istri-ution ? deals with the allocation of the social or

national income among the di1erent factors of.roduction

onsum.tion ? refers to the utili=ation of goods andser2ices -7 an7 indi2idual to satisf7 human wants



9/11

'i2ision of Economics

icroeconomics ? the stud7 ofeconomics which deals with the -eha2iorand acti2ities of indi2iduals in s.eci9c

units such as entre.reneurs, 9rms,manufacturers as well as consumers

acroeconomics ? the stud7 of the entire

-eha2ior of the econom7 and the factorsand forces, which cause de.ression,ination and recession



10/11

our Economic #esources

and ? includes natural resources aswell as the ground in which theseresources are found

a-or ? the work and time for whichem.lo7ees are .aid

a.ital ? man made goods used to.roduce other goods or ser2ices

Entre.reneurial a-ilit7 ?



11/11

;asic Economic @ro-lems

%hat are the goods and ser2ices to-e .roduced

*ow are the goods and ser2ices.roduced

*ow much goods and ser2ices are to-e .roduced

or whom are the goods and ser2icesto -e .roduced


introductiontoeconomicswithlandreformandtaxation-120813181047-phpapp02

Documents