Section+1

=Section 1 - Introduction to Economics=

__**Definitions of Social Science and Economics**__

 * __Social science__ -


 * __Economics__ -
 * Lessons in Love [[file:Lessons in Love.doc]]

__**Definitions of Microeconomics and Macroeconomics**__

 * __Microeconomics__ -


 * __Macroeconomic__s -

__**Definitions of Growth, Development, and Sustainable Development**__

 * __Growth__ -


 * __Development__ -


 * __Sustainable Development__ -
 * Learning to Speak Climate [[file:Learning to Speak Climate.doc]]

__**Definitions of Positive and Normative Concepts**__

 * __Positive Concept__ -


 * __Normative Concept__ -

__**Scarcity**__

 * __Factors of production:__
 * Land


 * Labor
 * The Biggest Issue [[file:The Biggest Issue.doc]]


 * Capital


 * Management/Entrepreneurship


 * __Payments to factors of production:__
 * Rent


 * Wages


 * Interest


 * Profit

__**Choice**__

 * __Utility -__


 * __Opportunity cost -__
 * __The Choice Between Crops and Water [[file:The choice between crops and water.doc]]__


 * __Free and economic goods -__


 * __Production possibility curves -__


 * __Diagrams showing opportunity cost, actual and potential output__


 * __Diagrams showing economic growth and economic development__

__**Rationing Systems**__
 * __Basic economic questions:__
 * What to produce?


 * How to produce?


 * For whom to produce?


 * __Types of economies__ -
 * Central planning


 * Free market
 * Return of the State [[file:The return of the state.doc]]


 * Economies in transition
 * Russia's Collective Farms: Hot Capitalist Property [[file:Russia’s Collective Farms.doc]]