All notes · SSC

1 chapter · 9 notes · all free

1. The Origin and Development of EconomicsWhen did economics finally stand on its own feet? See the story in seven steps.
2. Two Basic Economic Problems: Scarcity and Unlimited WantsYou have one thousand taka and want a shirt, pants and shoes. You cannot buy them all. So how do you choose?
3. The Concept of EconomicsSmith said wealth, Marshall said welfare, Robbins said scarcity. Where did each one leave a gap?
4. Microeconomics and MacroeconomicsIs unemployment a micro or a macro matter? And a single firm's behaviour?
5. Ten Principles of EconomicsWatch TV and the football waits. Which principle is that? Match all ten names to their numbers.
6. The Circular Flow of Income (Two-Sector Model)The money you spend: where does it end up coming back?
7. Fundamental Economic Problems and the Capitalistic or Market Economic SystemWhat, how and for whom: how does the market answer these three questions when nobody gives orders?
8. Socialist or Command Economic SystemWhat kind of economy is it when one ministry sets every price, income and output?
9. Mixed and Islamic Economic SystemsThe highway is the government's, what you buy is your choice. How does one country run on both?

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