Individual

deals with small scale economic

Company
1. Micro-economics
Household
Household Studies on..
Firm decision making

amount of goods and services produced

income earned
Defination
level of employment of productive resources

general behavior of prices

National income
2.Macro-economics
Output

Consumption

Unemployment

Relationship with.... Inflation

Savings

Investment

International trade

International finance

Land Natural resources

Capital

3.Factor of production Labour

production-natural resources

Labour
Enteprenuership
Physical capital

Human capital

Choice Economic Choice?

4.Scarcity Resources are insufficient to satisfy ALL human wants
Opportunity cost

What? - goods produced

How? resources used in production

5.Basic of economics question
Who? will received goods

When? production occur

Habits

Traditional Economy Customs

Religious

6.Types of economic system Command economy Government

Market Economy Privately owned

Economic Mixed Economy Both government and private

Main Idea
Concept
Demand

When the price goes up....

7.Demand and the law of demand
Quantity demand goes down
Law of demand
When price goes down....

...the quantity demanded goes up

Resources

Technologies

Taxes and subsidies

Supply
Price and related goods

Expectations
8.Supply and the law of supply
Numbers of sellers

Law of supply Price and quantity supplied

Price measure

9.Elasticity Percentage charge

Quantifying differences in markets

10.Market and Prices

11.Market Structure classified in term of the presence or absence of competition

A business cycle occurs due to the fluctuations that an economy

12. Economic or business cycle experiences over time resulting from changes in economic growth.

Low Unemployment
changes in government expenditures and
13.Fiscal policy /or taxes to achieve particular economic goals
Price stability

Economic growth

Interest Rate

Exchange rate

Goals
14.Monetary Policy
Insturments

Discretion

Intermediate Target

Currency Value (RM) - final goods and service

Defination Income of the nation

Measure nation's economic growth and well being

15.Gross Domestic Product Consumption by household

Investment by business
ASSIGNMENT 1 SBEP3422 URBAN ECONOMIC Include...
Government expenditures
Name: ZULKIPLI ISMAIL (SX130070BEPS04)
Lecturer : Dr Siti Hajar bte Misnan Net exports