Hello guys, Welcome to Africa's Largest Video Search Engine, and you are watching MN1015 Lecture 1 What is Economics?. and this video is uploaded by Hanomics at 2016-10-05T03:30:05-07:00. We are just promoting this video only for entertainment and educational purpose only. I hop you like our Video Search Engine. [iauU-3o6ccI]
| Name | MN1015 Lecture 1 What is Economics? |
| Video Uploader | Video From Hanomics |
| Upload Date | This Video Uploaded At 05-10-2016 10:30:05 |
| Video Discription | The first lecture in module MN1015 Economics 1 For Business at the School of Management Swansea University. The Economic problem: unlimited wants and limited resources The opportunity cost: the highest valued alternative that must be given up to get a choice The scope of Economic: 1- how do choices determine what, how, and for whom goods and services get produced? 2- when do choices made in the pursuit of self-interest also promote social interest? Economic way of thinking: - a choice is a tradeoff - people make rational choices by comparing benefits to costs - benefit is what you gain from something, while cost is what you must give up to get something - most choices are "how much" choices made at the margin - choices respond to incentives [iauU-3o6ccI] |
| Category | Education |
| Tags | Economics |
