SOC STUD 9: BASIC CONCEPT OF ECONOMICS

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Economics originated from the Greek word

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Oikonomia

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Oikonomia stands for

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Household Management

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A Social Science that deals with the study of how to manage well the scarce resources in order to satisfy the unlimited human needs and wants

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Economics

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Is how one manages a Household Wealth

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Economics

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Is a type of Economics that involves Household and Business Economics

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Microeconomics

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A small type of Economics

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Microeconomics

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Is a type of Economics that involves National and International Economics

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Macroeconomics

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A big type of Economics

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Macroeconomics

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A type of economics that refers to something within a household

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Household Economics

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A type of economics that refers to the transaction between a customer and the owner

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Business Economics