Meaning of Economics and Related Concepts.
Economics SSS1 First Term
WEEK 1
Meaning of Economics and Related Concepts.
Performance Objectives
Student should be able to:
- Explain the meaning of Economics
- Explain the basic concepts of Economics
Content
The subject Economics has its origin from the Greek word “OILKLNOMIESS” meaning household management. Economics has been defined by various economists. Some of the definitions given by some of the experts are;
Adam smith: He was popularly regarded as the father of economics and Smith defined economics as an inquiry into the nature and causes of wealth of nations. To him, economics is all about the making of wealth.
Alfred marshal: According to Alfred Marshal, economics may be defined as the study of mankind in the ordinary business of life. In the words of Marshal, economics.... View More
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- Meaning of Economics and Related Concepts.
- Basic Tools of Economic – Graph, Charts and Tables
- Basic Tools of Economic – Measures of Central Tendencies
- Concepts of Demand and Supply – Price System, Demand, Schedule, Curves and Laws.
- Concepts of demand and supply – Determinants of equilibrium price, quantity and point
- Economics SSS1 First Term Mid-Term Assessment
- Test
- Theory of production - Production
- Theory of Production – Division of Labour
- Theory of production - Scale of production
- Economic system – Capitalism
- Economic system – Socialism, Mixed Economy
- Basic economic problems of society
- Economics SSS1 First Term Final Assessment
- Test
- Concepts of demand and supply – Supply, schedules and Laws
- Chapters 14
- Category SSS1
- Author ClassNotes Edu
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