Chapter 1: Introduction to Economics
1-1. What Is Economics?: The word "economics" is from the Greek words [oikos], meaning "family, household, estate," and [nomos], meaning "custom, law," and hence means "household management" or "management of the state" .
1-2. Economist is a person who uses economic concepts and data in the way of employment, or someone who has got a university degree in the subject.
1-3. There are many definitions of economics as follow:
• Economics is a social science seeking to analyze and describe the production, distribution, and consumption of goods and services.
• The social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems .
• The study of man in the ordinary business of life.
• Is the science that study the wealth of nation.
1-4.Branches of Economics: Economics is subdivided into two main branches:
• Microeconomics: is a branch of economics that studies the economic behavior of individual units such as businesses and households in face of scarcity and government relations.
• Macroeconomics: is a branch of economics that studies an economy as a whole with a picture to understanding the relations between economic aggregates such as national income, employment and inflation.
1-5.Scarcity: exists in every society because human material wants are unlimited, whereas the economic resources necessary to produce the goods and services to satisfy these wants are limited .
Scarcity is a fundamental problem for every society. Decision must be made regarding what to produce, how to produce, and for whom to produce.
1-6. Positive economics:
Positive economics is the branch of economics that concerns the description and explanation of economic phenomena. It focuses on facts and cause-and-effect relationships and includes the developing and testing of economic theories.
1-7. Normative economics:
Normative economics is the branch of economics that merges value rules about what the economy should be like, or what particular policy actions should be recommended to achieve a desirable goal.
المادة المعروضة اعلاه هي مدخل الى المحاضرة المرفوعة بواسطة استاذ(ة) المادة . وقد تبدو لك غير متكاملة . حيث يضع استاذ المادة في بعض الاحيان فقط الجزء الاول من المحاضرة من اجل الاطلاع على ما ستقوم بتحميله لاحقا . في نظام التعليم الالكتروني نوفر هذه الخدمة لكي نبقيك على اطلاع حول محتوى الملف الذي ستقوم بتحميله .
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