Economics Basics: Health and Resources

Questions and Answers

How do you classify economics as a science?

What are the two central problems of economics?

Why is making a choice necessary?

What does microeconomics examine?

<p>Economic behavior of individual entities</p> Signup and view all the answers

What does macroeconomics concern itself with?

<p>National income</p> Signup and view all the answers

Study Notes

Lesson Overview

Focus on basic concepts in economics related to health.
Introduction to the application of economic principles.

Objectives

Recognize essential economic concepts.
Identify productive resources.

Economics Defined

Economics studies choices made by individuals and society in using scarce resources.
Resources can have alternative uses to produce various commodities.
Focus on resource allocation and its costs and benefits as defined by Samuelson.

Activity 1: What I Know Chart

Encourages personal reflection on knowledge regarding economic classification and core problems.
Engages students in pre-lesson thinking without concern for accuracy.

Basic Economic Concepts

Divided into two main branches:
- Microeconomics:
  - Analyzes decision-making by individual entities (consumers, producers, resource owners).
  - Focuses on behavior in the context of scarcity.
- Macroeconomics:
  - Concerned with overall economic performance.
  - Examines interactions among aggregates like national income, employment, and inflation.

Description

This quiz focuses on fundamental economic concepts related to health and resource allocation. It introduces students to key principles such as microeconomics and macroeconomics while encouraging personal reflection on their understanding of economics. Engage with the essential ideas of productive resources and economic choices.