{"id":298,"date":"2010-11-04T11:33:10","date_gmt":"2010-11-04T17:33:10","guid":{"rendered":"http:\/\/opengecko.com\/economics\/1-introduction-to-economics\/"},"modified":"2010-11-04T11:50:55","modified_gmt":"2010-11-04T17:50:55","slug":"1-introduction-to-economics","status":"publish","type":"page","link":"https:\/\/opengecko.com\/geckoview\/economics\/ib-economics\/1-introduction-to-economics\/","title":{"rendered":"1 Introduction to Economics"},"content":{"rendered":"

Key Concepts<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Definitions of social science and economics<\/td>\nhttp:\/\/opengecko.com\/economics\/introduction-to-economics-part-2\/<\/a><\/td>\n<\/tr>\n
Definitions of microeconomics and macroeconomics<\/td>\n <\/td>\n<\/tr>\n
Definitions of growth, development, and sustainable development<\/td>\n <\/td>\n<\/tr>\n
Positive and normative concepts<\/td>\n <\/td>\n<\/tr>\n
Ceteris paribus<\/td>\n <\/td>\n<\/tr>\n
Scarcity<\/td>\nhttp:\/\/opengecko.com\/economics\/introduction-to-economics-part-1\/<\/a><\/td>\n<\/tr>\n
factors of production: land, labour, capital and management\/entrepreneurship<\/td>\nhttp:\/\/opengecko.com\/economics\/introduction-to-economics-part-1\/<\/a><\/td>\n<\/tr>\n
payments to factors of production: rent, wages, interest, profit<\/td>\n <\/td>\n<\/tr>\n
utility: basic definition<\/td>\nhttp:\/\/opengecko.com\/economics\/introduction-to-economics-part-2\/<\/a><\/td>\n<\/tr>\n
opportunity cost<\/td>\nhttp:\/\/opengecko.com\/economics\/introduction-to-economics-part-1\/<\/a><\/td>\n<\/tr>\n
free and economic goods<\/td>\nhttp:\/\/opengecko.com\/economics\/introduction-to-economics-part-1\/<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Production Possibility Curves<\/strong><\/p>\n\n\n\n\n\n
definition<\/td>\nhttp:\/\/opengecko.com\/economics\/production-possibility-frontiers-or-ppfs\/<\/a><\/td>\n<\/tr>\n
diagrams showing opportunity cost, actual and potential output<\/td>\nhttp:\/\/opengecko.com\/economics\/production-possibility-frontiers-or-ppfs\/<\/a><\/td>\n<\/tr>\n
diagrams showing economic growth and economic development<\/td>\nhttp:\/\/opengecko.com\/economics\/production-possibility-frontiers-or-ppfs\/<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Rationing systems<\/strong><\/p>\n\n\n\n\n\n\n
\n

basic economic questions
\u2022 what to produce?
\u2022 how to produce?
\u2022 for whom to produce?<\/p>\n<\/td>\n

 <\/td>\n<\/tr>\n
\n

mixed economies
\u2022 public
\u2022 private<\/p>\n<\/td>\n

 <\/td>\n<\/tr>\n
central planning versus free market<\/td>\nhttp:\/\/opengecko.com\/economics\/command-or-planned-economies\/<\/a> <\/p>\n

http:\/\/opengecko.com\/economics\/market-economies\/<\/a><\/td>\n<\/tr>\n

economies in transition<\/td>\nhttp:\/\/opengecko.com\/economics\/transition-economies\/<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Key Concepts Definitions of social science and economics http:\/\/opengecko.com\/economics\/introduction-to-economics-part-2\/ Definitions of microeconomics and macroeconomics   Definitions of growth, development, and sustainable development   Positive and normative concepts   Ceteris paribus   Scarcity http:\/\/opengecko.com\/economics\/introduction-to-economics-part-1\/ factors of production: land, labour, capital and management\/entrepreneurship http:\/\/opengecko.com\/economics\/introduction-to-economics-part-1\/ payments to factors of production: rent, wages, interest, profit   utility: basic definition…<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":166,"menu_order":1,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"tags":[],"class_list":["post-298","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages\/298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/comments?post=298"}],"version-history":[{"count":2,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages\/298\/revisions"}],"predecessor-version":[{"id":300,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages\/298\/revisions\/300"}],"up":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages\/166"}],"wp:attachment":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/media?parent=298"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/tags?post=298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}