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BSIT 3A
1. Site an example on how you can used economics in
real life situation.
-Budget Constraints
The first lesson of economics is the issue of scarcity. We may
have unlimited desires, but resources are limited. We need to use
our budget / resources carefully. We can only spend the money we
have.
Antropology
Political Science
Political science and economics are social sciences. Political science is the
study of politics intheory and practice, while economics is the study of how
resources are produced, allocated, and distributed. As well as dealing with
subjects that often relate to one another in everyday life, the two are
commonly seen as sister subjects in academic terms.
- Psychology
Economics is a science which is constantly progressing and interacting
with other sciences. Studies in the economics literature discuss how
people display a behavior in the economic decision- making progress.
Psychology is a science which explains behavior of people and it
cannot be ignored that psychology has a profound effect on
economics. Human psychology and behaviors show complex
History
-Keynesian Economics
Keynes advocated increased government expenditures and lower taxes to
stimulate demand and pull the global economy out of the Depression.
Subsequently, the term Keynesian economics was used to refer to the
concept that optimal economic performance could be achieved and
economic slumps prevented by influencing aggregate demand through
activist stabilization and economic intervention policies by the
government
-Monetarian Economics
that provides a framework for analyzing money in its functions as a medium of
exchange, store of value, and unit of account. It considers how money, for
example fiat currency, can gain acceptance purely because of its convenience as
a public good.[] It examines the effects of monetary systems, including regulation of
money and associated financial institutions[2] and international aspects.[3]
-New
classical Economics