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    Applied Economics: Chapter #1 - LC #1 & 2

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    Zeo Alcantara
    This document contains a presentation on concepts in applied economics. It discusses key terms like opportunity cost, microeconomics, and macroeconomics. For opportunity cost, it is defined as the most valued alternative forgone when making a decision. The slides also ask questions about scarcity prompting choices and which option would have the highest opportunity cost of going to school out of several examples.

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    Applied Economics: Chapter #1 - LC #1 & 2

    Uploaded by

    Zeo Alcantara
    83 views12 pages
    This document contains a presentation on concepts in applied economics. It discusses key terms like opportunity cost, microeconomics, and macroeconomics. For opportunity cost, it is defined as the most valued alternative forgone when making a decision. The slides also ask questions about scarcity prompting choices and which option would have the highest opportunity cost of going to school out of several examples.

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    APPLIED ECONOMICS

    Original Title

    POWER_POINT_ABM_AE-I-ad-1.3

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    This document contains a presentation on concepts in applied economics. It discusses key terms like opportunity cost, microeconomics, and macroeconomics. For opportunity cost, it is defined as the most valued alternative forgone when making a decision. The slides also ask questions about scarcity prompting choices and which option would have the highest opportunity cost of going to school out of several examples.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    83 views12 pages

    Applied Economics: Chapter #1 - LC #1 & 2

    Uploaded by

    Zeo Alcantara
    This document contains a presentation on concepts in applied economics. It discusses key terms like opportunity cost, microeconomics, and macroeconomics. For opportunity cost, it is defined as the most valued alternative forgone when making a decision. The slides also ask questions about scarcity prompting choices and which option would have the highest opportunity cost of going to school out of several examples.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 12

    Applied Economics

    Chapter #1 - LC #1 & 2

    Presented BY:
    KRISHA D. CAMUS, LPT,MBA,NC III
    (BOOKKEEPING)
    REVIEW: TRUE OR FALSE

    • Wage is paid to white collar workers- paid


    monthly to employees whose contributions
    cannot be easily measured.
    • Investment is the purchase of goods that
    are consumed today and are not used in the
    future to create wealth.

    MTOT - ABM Class A Applied Economics


    Agree or Disagree?

    Scarcity prompts people to


    make choices?

    MTOT - ABM Class A


    Applied Economics
    Scarcity prompts people to make choices?

     In making choices, we compare


    the cost and benefits associated
    with each options.
     Whenever we make decision to
    do something, we are sacrificing
    to do other things.

    MTOT - ABM Class A


    Applied Economics
    Basic Terms in Economics

    • Opportunity Cost

    MTOT - ABM Class A Applied Economics


    Basic Terms in Economics
    • Opportunity Cost-is the value of benefits
    or income that an individual forego or
    trade off when he chooses a particular use
    of a resource among its many alternative
    uses. The most valued alternative that one
    foregoes is the opportunity cost of a
    decision or an action.

    MTOT - ABM Class A Applied Economics


    Basic Terms in Economics

    • Micro-economics

    MTOT - ABM Class A Applied Economics


    Basic Terms in Economics

    • Micro-economics-deals
    with the decisions and
    behavior of individual
    economic units such as
    the consumers and the
    producers

    MTOT - ABM Class A Applied Economics


    Basic Terms in Economics

    • Macro-economics

    MTOT - ABM Class A Applied Economics


    Basic Terms in Economics

    • Macro-economics-
    focuses on the behavior
    and the operation of
    the entire economy

    MTOT - ABM Class A Applied Economics


    ESSAY: Whose opportunity cost, in terms
    of going to school, would be the highest?

    A. A student who is working part-time at


    Jollibee.
    B. A famous singer/actor who wants to obtain a
    college degree.
    C. A promising Information Technology student
    who will command a high salary after
    graduation.
    D. A star athlete in a college team but whose
    skill is not ready to enter the PBA Team yet.
    MTOT - ABM Class A Applied Economics

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