Abstract

This study shows about the basic economic concept that was related to the current issues and in
quantity surveying. Economic has 2 types which is microeconomics and macroeconomics. The
microeconomic has 3 concept, household, firm and government. The study found there is a
relationship between economics and quantity surveying.

Acknowledgement
In preparation of this assignment, I had to give so much respect for those who help me to
complete up my assignment especially my lecturer and my friends. I would like to thank you to
Dr. Mohd Afandi Abu Bakar, lecturer of DQS 156 who guided me to finish up my work. Also, I
would like to thank Dr. Afandi for giving me the materials and introduced to me “The Basic
Economic Concept”. Now, I understood the concept more deeply .

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CONCLUSION

Economics is concerned with the optimal distribution of scarce resources within society. For
example, economics is concerned with how individual decisions like how firms produce goods
and which goods people buy. An important element in economics is concerned with the extent to
which governments can intervene in the economy to improve economic welfare. Economics is
also concerned with wider issues such as economic growth and unemployment – issues that
affect the whole of society.

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THE DEFINITION OF ECONOMICS AND BUILT ENVIROMENT

Economics can be defined as a study of how a society uses its limited resources . It is also a
social science that deals with the production, distribution , consumption of goods and services .
The term also focuses heavily on the four factors of production , which are land , labor , capital
and enterprises . These four main things is needed to shape up economic activities in our daily
life and it is split into two sections which are macroeconomics and microeconomics .

Built environment , or built world in the other hand , refers to the human-made surroundings
that provide the setting for human activity, ranging in scale from buildings to parks. It has been
defined as the human-made space in which people live, work, and recreate on a day-to-day basis
. The built environment encompasses places and spaces created or modified by people including
buildings, parks, and transportation systems .

HOW CONSTRUCTION AFFECT THE ECONOMIC, SOCIAL AND POLITIC ?

The construction industry brings a wide range of benefits to individuals, companies and nations.
For instance, many job opportunities exist in the development of land, the construction of
buildings to live and work in, and the maintenance of buildings during their useful life.

In the economic aspect , the examples are such as new developments attract further commercial
opportunities. This brings further economic wealth into an area after the initial development is
complete. Other than that , economic migration is one of the effect that may occurs .It is
described when a booming construction industry attracts workers from other nearby countries.
This then allows more construction to take place . Futhermore , employment in the construction
industry and other related industries will spike drastically . This puts money into the local
community through local businesses, taxes and council spending .

In the social aspect , the examples are the inner city regeneration of run-down areas . This can be
described when unsightly buildings are demolished and replaced , regenerating an area and
injecting new growth.

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For example , the River of Life Project that is currently running in the Kuala Lumpur . Besides
that , there will be more affordable housing for the people. The planners now have to include this
type of housing in any new housing development. This allows people to own their own homes
more easily. Reduction in pollution is one of the effects of the construction industry . The
inclusion of alternative transport, trams, buses and light railway networks reduces reliance on
cars.

In political aspect , politics has an effect on the structure sector in lots of various indirect and
direct ways. Whenever politicians would like to try to “kick start” the economy, they will create
regulations that devote in general public works building and construction plans. Yet when people
in politics create devastating economical faults, the building market generally senses the end
results harder compared to some other organization sector .Governmental policies and the
building and construction business usually have a give and take partnership. Provided that
structure is among the most most predominant sectors all through the globe, it will often be
within the jurisdiction of political figures.

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References
https://www.pearsonschoolsandfecolleges.co.uk/FEAndVocational/Construction/BTEC/BTEC-
Firsts-in-Construction-and-the-Built-Environment-
2013/Samples/BTECFirstsinCBE2013StudentBookDraftSamples/BTECFirstsinConstructionStu
dentBookUnit2Draft.pdf
http://www.battlefortruth.org/how-politics-affect-the-construction-industry.asp
https://www.abc.org/News-Media/News-Releases/entryid/15795/the-importance-of-construction-
to-state-economies
https://study.com/academy/lesson/what-is-economics-definition-history-timeline-
importance.html
https://en.wikipedia.org/wiki/Built_environment

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 DQS 156
THE DEFINITION OF ECONOMICS AND BUILT
ENVIROMENT

NAME : ISKANDAR BIN AMIRUDDIN

MATRIX NO : 2018673058
GROUP : AAP1142D