Economic Concepts

Topics: Economics, Economics terminology, Opportunity cost Pages: 3 (632 words) Published: March 19, 2013
Economics the basic concept is how to use the resources and produce the goods and services.

Also how to distributes all the services and goods among people. And to do the analysis of the

production, distribution is the key component in the economy.

in another, slightly different definition of economics, favored by many economists, is this:

Economics is the study of how our scarce resources to more productive uses in order to satisfy

human needs. This definition highlights two key points. First, productive resources are scarce, in

the sense that we have not been able to produce all of everything that everyone wants free,

"save" our resources, or use them as efficiently as possible. Secondly, people want to, if not

infinite, so far beyond the ability of our productive resources in order to convince them all that we

have a big problem in the "economization" those productive resources to satisfy wants Sun the

greatest number of our face fro . In fact, the most serious economic problems arise from this

fact of scarcity, and to highlight the need for effective use of our resources to the satisfaction of

our wants. Would there have plenty of everything for everyone, without working or paying for,

there would be no economic problem. But alas, this is not the state of the world, even in affluent

American society, and certainly not in the poorer countries, which contain most of the world.

there are some fundamental concepts of economics.

1. scarcity: some fruit and vegetables are scarce in some markets because these fruits or vegetables to grow only at certain times of the year. Since the supply of fruit and vegetables is low, there is a better chance that these fruits and vegetables will be scarce, or not always available. You may find that the market has no strawberries at all. Why? Either there was no shipment of strawberries, or strawberries were so few, that by the time you got there, they were all gone.

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