Home
Search results “Limited resources factors of production”
Factors of Production (Resources)
 
04:00
Factors of Production (Resources) There 4 factors of production, namely, land/raw materials, labor, capital and entrepreneurship. Why is entrepreneurship considered a type of resource? Well, because an entrepreneur brings other 3 factors of production (land/raw materials, capital and labor) together to make production possible. Why is money not considered a type of resource in economics? What is the difference between economic capital and financial capital?
Views: 135270 Economics Mafia
What Are The Four Factors Of Production?
 
00:46
Often times, a good or service uses each one of the four factors production in this study note focuses on main i. Inputs used in the supply of goods and services 11 apr 2017 definition four factors production are land, labor, capital goods, entrepreneurship. Factors of production land, labour, capital and entrepreneur describe the four factors. And find homework help for other history questions at enotes factors of production. A lesson plan for grades 9 10 social studies the four factors of production in economicsupdated april 25, 2017one topic study economics is how and why different definition resources required generation goods or services, generally classified into major groups land (including all natural economics, production, resources, inputs are what used process to produce output that is, finished services some important (i) (ii) labour (iii) capital traditionally following 17 mar 2016 get an answer 'describe. Education stlouisfed episode 2 factors of production url? Q webcache. The four factors of production in economics production? Definition and meaning wikipedia. Economists divide the factors of production into four categories land, labor, capital, and entrepreneurship. The four factors of production learn nc. Googleusercontent search. There are four categories of resources, or factors production natural resources (land); Labor (human capital); Capital (machinery, factories, equipment) 23 mar 2015 there main sometimes called land consists all the gifts natureFactors production, economic lowdown podcasts. Education factors of production, economic lowdown podcasts. The four factors of production youtubeintroduction to business lumen learning. We must decide the efficient allocation of scarce factors production students will learn to identify and explain four land, labor, capital, entrepreneurship. They are the inputs needed for supply there limited resources to produce goods, and unlimited human wants. Four of the production factors displayed economic resources use in goods; The four are natural a system which decisions involving production, distribution, and 30 sep 2012 by matt gilson tom sheahan, 5th hour economics, lamborghini 24 2015. The economic inputs used to make a profit are called factors of production the include land, labor, capital and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services the factors describe function that each performs in business environmentland economic encompassing resources found within a nation s economyentrepreneurship lesson, you'll learn about four main inputs, known as production, needed all an economy labor, capital, entrepreneurship. Education factors of production, economic lowdown podcasts. Factors of production, economic lowdown podcasts. Bbc higher bitesize business management in the factors of production flashcards four from lamborghini by matt gilson on prezi. Definition of the four factors production commerce
Views: 172 Robert Robert
Three Types of Economic Resources: Factors of Production
 
01:23
This video introduces the three types of economic resources including: natural, human and capital resources. Enjoy learning about these three factors of production.
Views: 70862 Alex Lamon
Is Money A Factor Of Production?
 
00:46
A firm cannot in economics, factors of production, resources, or inputs are what is used the production money, however, was not considered to be a factor sense capital stock since it directly produce any good defined as an input process, including land, labour, entrepreneur and view full answer overview by phds from stanford, harvard, berkeley. And if that is the case, then certainly money a factor of production. Fiat money definition, history & examples; Financial leverage where there is production, a process of transformation takes place. Explain the role of one thing that is not considered capital money. Factors of production what are production? Definition and meaning factor citeseerx. 28 mar 2013 as vilfredo mentioned, you cannot substitute a factor of production with money. You might ask, isn't money a type of capital? Money is not capital as economists define factor production an input to the process, such capital, labor, raw materials, energy, etc. Inputs used in the supply of labour is human input into production e. What is 'capital' in relation to the factors of production? Factors production investopedia. Why is money not a factor of production? What if i have labor but the why Quora. Money, or income, is just one of several scarce limited resources we have to capital a factor production that has been produced for use in the firm cannot money directly produce other goods, so does not definition factors required generation these are classified also as management, machines, materials, and (this, new business manager, first thing you must be tune with dominance 'fusers' shown by prevalence 2 models, wherein economy' open labour, land learn more about boundless textbook. Other factors of production boundlesstutor2u economics. Money is only a facilitator in the acquisition of those first factor production land, but this includes any natural resource used to money not capital as economists define because it 17 nov 2009 economic terms, acquire resources that go into producing goods no really yes or sometimes i need ask about number lay eggs (nest) pen and bird thank you very much 11 may 2015 note included among factors. Input is the starting point and output end of a production process classical economists also employed word 'capital' in reference to money this study note focuses on main factors i. Factors of production in economics definition, importance factors by chris rodda. Education why, in economic terms, is money not a factor of production? An why considered as production answers. Note carefully that money is not a factor of production, used to buy factors 16 feb 2017 the categorize costs involved in production output. Factors of production, economic lowdown podcasts. Factors of production is an economic term that describes the inputs are used in zuckerberg decides to use his own money increase rented server space define three factors labor, capital, and natural resources. To say that money is not a factor of production to accept
Views: 56 Robert Robert
Limiting Factors in an Ecosystem
 
02:09
Limiting Factors in an ecosystemAny biotic or abiotic factor that restricts the number or production of organisms is a limiting factor. Take this ecosystem found in the fishbowl The limiting factors would be the size of the bowl, amount of water, will limit the number of fish that can survive in the fishbowl Limiting factors can be dependent limiting factors and independent factors Dependent limiting factors depend on the number of organisms For example, the amount of food available for each organism depends on the number of organisms An independent limiting factors does not depend on the number of organisms. For example, the amount of rainfall does not depend on the number of organisms You also have Density-Dependent Factors A limiting factor that depends on population size is called a density-dependent limiting factor. Density-dependent limiting factors include: • competition • predation • parasitism • disease Here is a list of abiotic limiting factors Sunlight Climate Temperature Water Space Soil chemistry Fire Natural disasters Biotic factors limiting factors Number of plants Number animals Amount of competition Number of decomposers parasites Disease causing agents
Contribution Margin and a Limiting Factor (Management Accounting Series)
 
05:58
This management accounting video explains which product to use when there is a limiting factor in place (like space or time, for example). This is a rather simple management accounting tutorial, but it's important nonetheless as it will likely come up in your managerial accounting textbook. And besides, it's always good to review the fundamentals! We appreciate all of the support you guys have given us. Be a part of the mission to help us reach more students by subscribing, thumbs upping and adding the videos to your favourites! Subscribe: http://www.youtube.com/subscription_center?add_user=ininjanotes Website: http://www.ninjanotes.ca Follow us on Facebook: https://www.facebook.com/pages/Ninja-Notes/334589563245679 Follow us on Twitter: http://twitter.com/ininjanotes
Views: 16257 NP
What are the Factors of Production?
 
02:10
What are the Factors of Production? #GcseBusiness #ALevelBusiness #BTECBusiness
Are We Running Out of Resources?
 
04:08
Prof. Steve Horwitz addresses the common belief that the world is running out of natural resources. Instead, there are economic reasons why we will never run out of many resources. In a free market system, prices signal scarcity. So as a resource becomes more scarce, it becomes more expensive, which incentivizes people to use less of it and develop new alternatives, or to find new reserves of that resource that were previously unknown or unprofitable. We have seen throughout history that the human mind's ability to innovate, coupled with a free market economic system, is an unlimited resource that can overcome the limitations we perceive with natural resources. Watch more videos: http://lrnlbty.co/y5tTcY
Views: 194800 Learn Liberty
Contribution per limiting factor part 1
 
10:01
Hi, thanks for watching. I do online tutoring via Skype so what you are seeing on this video is exactly what you will be seeing on your computer screen and I will also be able to hear and interact with you. Most of my students now prefer online tutoring as it means I can teach them in the comfort of their own rooms and its much cheaper. Please get in touch with me on [email protected] or via my website www.leeds-accounting-tutor.com. I also work out single questions on video for students for a small fee.
Views: 20922 Accounting Tutor
Part 6 - Relevant Costs for Decision Making - Constrained Resource
 
06:22
The links to the problems are no longer working. If you want updated videos (with working links) try this playlist: https://youtu.be/2eG_UVdoJrA In this series of videos we look at relevant costs for short term decision making. There are 6 parts: 1.) Relevant Costs: Sunk and Differential costs discussed. 2.) Keep or Replace old equipment 3.) Drop or retain underperforming division 4.) Make or Buy 5.) Special order 6.) Constrained Resource This video and the attached worksheet were prepared by Tony Bell of Thompson Rivers University (TRU) - I encourage educators to freely use, edit and modify these videos and the attached worksheet - they are available under Creative Commons Licenses.
Views: 37738 Tony Bell
What is scarcity?
 
02:46
Scarcity explained-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 83378 Kivuvu Osias
Economics Factors of production
 
11:19
Factors of production. Labour, land and capital
Views: 412 david hopcroft
Economics Unit 2 Class 1 Factors of Production By Mukim Sir
 
00:47
Economic resources are used to produce goods and services and are in limited supply. This unit explores the key characteristics of the factors of influences on their supply and also discusses the mobility of this factor.
(1/3) The Production Possibilities Frontier – Economic Lowdown, Ep. 8
 
05:14
This segment uses the fictional economy of Econ Isle to discuss how limited resources result in a scarcity problem for the economy. Econ Isle’s production possibilities are graphed to show its frontier, and then used to discuss the opportunity costs of its production and consumption decisions. Instructors, learn more at https://www.stlouisfed.org/education/economic-lowdown-video-series/episode-8-production-possibilities-frontier/scarcity-opportunity-cost
Limited resources and unlimited desires cause economic problems -- Radhanath Swami
 
01:10
[For more videos - http://harekrishnatube.com]
Views: 411 ISKCON Desire Tree
Labor Markets and Minimum Wage: Crash Course Economics #28
 
10:38
How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are getting paid around you all factor in. In a lot of ways, labor markets work on supply and demand, just like many of the markets we talk about in Crash Course Econ. But, again, there aren't a lot of pure, true markets in the world. There are all kinds of oddities and regulations that change the way labor markets work. One common (and kind of controversial one) is the minimum wage. The minimum wage has potential upsides and downsides, and we'll take a look at the various arguments for an against it. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 501218 CrashCourse
The Young Economists- Supply & Demand
 
05:29
Instrumental: Still Dre (https://www.youtube.com/watch?v=zYxqZDt1on8) AP Economics Video Review Project: Basic Economic Concepts, Market Economy, and Supply & Demand. Lyrics: [Greg]: Yo kids, welcome to AP Econ 1 Year of listening to Jeffrey Ryan If you say you understand, then you straight lyin One question: Is you even TRYIN? The first thing we look at is marginal analysis Decide on the benefits and cost, bliss Limited resources, unlimited wants Makes every decision have an opportunity cost Now put your phones down, and listen carefully Economics is how people deal with scarcity Economic resources, there’s only four Land, capital, entrepreneurship, and labor Now all the ladies/you can call me a G I bring the satisfaction, call me utility Everything’s made through supply and demand Guided by self-interest, the Invisible Hand Whether you’re in Aurora or Spring Break vacation You all about your utility maximization So when you see me on the block No I ain’t sellin no rock Me and Mr. Darp trying to teach the youth Blue Flynn economics, you can call me the truth [Chorus]: Agree to disagree, it's bout the S and the D Supply Demand, Supply Demand, Supply Demand [Gabe]: Alright Straight from the comics, Here is the definition of economics. Economics isn’t just money, We bringing in things like the selling of honey. Economics the study of how to allocate scarce resources Let us give you all some of the key resources. Economics can apply to everything, Hell yes even the lion king Alright let’s hit the production possibilities curve Watch out we about to strike a nerve. Let’s get into this frontier Since we beginning to near, the end of this AP Year. It represents the combo of 2 goods Let’s get it coming out of the woods like t- swizzle faschizzle my wizzle Every point on the curve is our economy acting efficiently That means we are using our resources sufficiently Our resources are being productive, And our economy is constructive. When operating along the curve You should observe The opportunity cost we flowin on this beat like robert frost, Talkin bout opportunity cost. AKA the value of the best alternative sacrificed in the decision Cause that’s what it takes to have precision. This is my division And we dividing up this project like resource allocation Just like the ppc curve between 2 nations. [Chorus]: [Chris]: C’mon Mr. Ryan lets do some economics real quick, comparative advantage to Surplus real swift. What do you call it when country A makes Product 1 better than country B? That’s comparative advantage, it’s the key But turn to Spain, their Olives ain’t lame, say my name say my name, I’m on top of my game. Moreover Spanish Olives only from one nation? That’s specialization. Now, don’t be afraid to Trade, go ahead, get paid for things that have been made! Organize your resources, those are market forces. Optimize supply and demand, it’s where the two curves meet, makes the market complete. Simply put, market equilibrium, not pandemonium. Determinants? My man, look at demand, look at consumer tastes, don’t let it go to waste, number of buyers, don’t letem be liars, income, prices of substitutes, compare their attributes, prices of complements, and their competence, consumer expectations which differs nation to nation, from Haitians to Croatians. Elasticity isn’t about publicity, just maintain logic and simplicity. Price of Product and profit are inversely proportional. So what about Inelasticity, breh, remember simplicity, there’s no toxicity, the relationship is proportional, higher product prices means more profit, I’m not a prophet, being prudent, I’m an econ student Explaining deadweight loss like a boss. It’s tough when I don’t have enough, no I don’t bluff, but give me more stuff. No I don’t speak Dutch, but if the market got too much, that’s surplus! [Chorus]:
Views: 199 Masha DA KAT
3 economic questions, 4 factors of production, 2 generic strategies in management, marketing
 
10:58
The video reveals must-know theories on how to start a business, which are consistent with the courses in economics and management taught at universities. 1. All businesses must respond to 3 basic economic questions: What? For whom? And How? They must decide what to produce, how to produce and how to promote their products among the target consumers given limited resources. 2. Businesses must decide what will make their goods or services different from those offered by competitors, in other words, what their competitive advantage will be. They have to pursue either cost leadership strategy or differentiation strategy. 3. In order to craft their marketing strategy, businesses have to perform the following 3 steps: Market Segmentation - Targeting - Positioning. 4. Businesses must define the optimal mix of limited inputs. In economics, they are known as 4 factors of production: land, labour, capital and entrepreneurship. The text version can be found here: https://topmanagementtips.wordpress.com/2019/02/01/basic-academic-course-for-managers/
Views: 37 Mond Management
Allocation of Scarce Resources
 
02:50
Richard Demme outlines some resources that were and still are scarce in the medical field.
Views: 710 schwertieman
Economics with Mr. Jones: Factors of Production
 
08:04
This video was created for high school Economics students or members of the general public who are interested in learning more about the factors of production. This video was created using Adobe Premiere Pro along with green screen technology. STUDENT QUESTIONS: 1. What are the four factors of production? 2. How might a society be limited by the factors of production? 3. Should the government be allowed to intervene in the free market in order to make judgements on who gets to control the land (natural resources) of the nation? 4. If you were going to open a bakery, what would you need in order to produce goods and services (at least one idea from each of the four factors)?
Views: 6967 Jones EdTech 533
Lecture - 15 Limited Resource Allocation
 
51:14
Lecture series on Project and Production Management by Prof. Arun kanda, Department of Mechanical Engineering. For more details on NPTEL visit http://nptel.iitm.ac.in
Views: 27699 nptelhrd
1329. Basic Problems in Economy -  What is produced & what quantities
 
03:33
Visit our website www.arinjayacademy.com for Hindi,  Maths, Accounts, CA Final International Tax, Direct Tax at following links  Hindi Class 6 Notes, click -  https://www.arinjayacademy.com/hindi-vyakaran-हिंदी-व्याकरण-class-6/ Hindi Class 7 Notes, click -  https://www.arinjayacademy.com/hindi-vyakaran-class-7/  Hindi Class 8 Notes, click -  https://www.arinjayacademy.com/hindi-vyakaran-class-8/ Hindi Class 9 and Class 10 Notes, click -  https://www.arinjayacademy.com/hindi-vyakaran-class-10/ Maths Class 3 Notes, click -  https://www.arinjayacademy.com/practice-maths-grade-3/ Maths Class 4 Notes, click -  https://www.arinjayacademy.com/maths-class-4/ Maths Class 5 Notes, click -  https://www.arinjayacademy.com/practice-maths-grade-5/  Maths Class 6 Notes, click -  https://www.arinjayacademy.com/practice-maths-grade-6/  Maths Class 7 Notes, click -  https://www.arinjayacademy.com/practice-maths-grade-7/  Maths Class 8 Notes, click -  https://www.arinjayacademy.com/practice-maths-grade-8/ Accounts Class 11 Notes, click - https://www.arinjayacademy.com/accounts_class-xi/ Accounts Class 12 Notes, click  -  https://www.arinjayacademy.com/accountancy-class-12/  CA Final International Tax Notes, click -  https://www.arinjayacademy.com/ca-final-elective-paper-6c-international-tax/ Transfer Pricing Notes, click -  https://www.arinjayacademy.com/transfer-pricing/ International Tax Article by Article Notes, Click -  https://www.arinjayacademy.com/international-tax-interpreting-tax-treaty/ Download Arinjay Academy app at : - https://play.google.com/store/apps/details?id=com.arinjayacademy You can access our content at https://www.arinjayacademy.com/learn Practice Accounts Exercise Class XII at - https://www.arinjayacademy.com/learn/Accounts-Class-XII?tab=3 Practice Maths Exercise Class VI at - https://www.arinjayacademy.com/learn/MathsClassVI?tab=3 Practice Maths Exercise Class VII at - https://www.arinjayacademy.com/learn/Maths--Class---7-?tab=3 Practice Hindi Exercise Class VI at - https://www.arinjayacademy.com/learn/Hindi---Class-6--?tab=3 Practice Economics Exercise Class XII at - https://www.arinjayacademy.com/learn/Economics---Class-12?tab=3 In an economy, the factors of production are limited. Hence, the limited resources available are to be used for production of only certain commodites and not all of them. Hence the question of What is to be produced and in what quantities.
Views: 1059 Arinjay Academy
Scarcity Video 1 - Defining and Explaining Scarcity
 
10:01
This video is Part 1 of a 5 part series which explores the economic concept ‘scarcity’. Part 1 of this series focuses on defining and explaining scarcity. Definition of Scarcity Scarcity can be defined as too many people chasing too few goods and services. There are insufficient resources to cater for all the needs and wants of everyone. Scarcity explained using examples Scarcity is explained using a simple example of a small society consisting of 4 people. One person (Fred) has a banana that he wants to trade. The other 3 people want the banana but only one person can have it. These 3 people offer Fred various things to trade for the banana. Fred accepts what he believes to be his best offer (2 of 3 people that wanted the banana lose). This video also briefly discuses and defines money. The example of scarcity is explained using money instead of barter trade. In the presence of scarcity, those that own the scarce resource or have possession of the factors of production to produce or obtain the scarce resource benefit from scarcity. Those with limited wealth and no ownership of the means or factors of production are forced to compete to obtain the scarce resources. These people are hurt by scarcity. Other sources of information This 5 part series is the video version of the original 5 part series which can be accessed using the following links: Scarcity Part 1 – Defining Scarcity https://steemit.com/economics/@spectrumecons/scarcity-part-1 Scarcity Part 2 – Natural or Contrived https://steemit.com/economics/@spectrumecons/scarcity-part-2-natural-or-contrived Scarcity Part 3 – Meat and Dairy Land Use https://steemit.com/economics/@spectrumecons/scarcity-part-3-meat-and-dairy-land-use Scarcity Part 4 – Labour, Capital, and Entrepreneurship https://steemit.com/economics/@spectrumecons/scarcity-part-4-labour-capital-and-entrepreneurship Scarcity Part 5 – Possible Solutions https://steemit.com/economics/@spectrumecons/scarcity-part-5-possible-solutions
Views: 99 Spectrum Economics
How Economies Decide How to allocate their Resources?
 
03:45
The three economic questions by Ryan And Sadegh
Views: 12883 MEFonomics
Microeconomics - Lecture 01a
 
46:42
economics, economic perspective, scarcity, choices, decision, economic decisions, action, human action, purposeful behavior, trade-off, opportunity cost, opportunities, alternatives, utility, marginal analysis, marginal benefit, marginal cost, cost-benefit analysis, theories, economic theories, expectations, models, economic models, microeconomics, macroeconomics, international economics, households, household behavior, decision-making, profits, managerial economics, economizing, economizing problem, factors of production, land, labor, capital, real capital, financial capital, human capital, limited income, waste, efficiency, unlimited wants, society's economizing problem, social resources, entrepreneurial skills, production, production possibilities, production possibilities table, production possibilities frontier, production possibilities curve, social choice.
Views: 7518 Krassimir Petrov
Chang-Tai Hsieh: Resource misallocation & productive growth
 
05:46
Chang-Tai Hsieh, IGC steering group member, explains why some firms are more successful than others, using Indian firms as a case study.
scarcity the basic economic problem
 
35:24
economics video on scarcity - the building block of economic logic. Other concepts also covered: production constraints (factors of production), consumption constraints, the what / how and for whom questions / and opportunity cost.
Views: 2589 Jared Boyd
Scarcity
 
07:08
Scarcity and limited resources.
Views: 21 Bryan Braack
Scarcity - defined
 
00:38
The concept of Scarcity is the fundamental economic problem of having humans who have unlimited wants and needs in a world of limited resources. It states hat society has insufficient productive resources to fulfill all human wants and needs. Reference: http://en.wikipedia.org/wiki/Scarcity - created at http://www.b2bwhiteboard.com
Views: 9589 B2Bwhiteboard
The Factors of Production - Business Course
 
04:22
The factors of production: capital, enterprise, land and labour all explained in this short video. Educate yourself or help yourself to better your knowledge. Take a look at our channel or visit the website at http://revisionready.weebly.com/ to suggest a topic or join in on the conversation!
Views: 247 RevisionHub
What Scarcity?
 
00:53
What Scarcity? [2/10] by openlectures Scarcity arises because there are limited resources but unlimited wants. -- ^^^ SUBSCRIBE above for more quick lectures! ^^^ VISIT openlectures: http://openlectures.org ABOUT openlectures: http://openlectures.org/team FOLLOW openlectures: FB - http://facebook.com/OpenLectures
Views: 1309 openlectures sg
Econ 101 (part 2): The Definition of Economics
 
03:53
The definition of economics is something about scarcity and trade-offs ... so can we try to figure out what Economics is really about? This is the 2nd of 4 videos about the 1st economics class! Check out part 1 about the rationality assumption: https://youtu.be/BtsekbsC6wU Also our video about the definition of freedom: https://youtu.be/0lm3YNS_Uog If you would like us to keep going please support us on Patreon: https://www.patreon.com/theinvisiblefootofgovernment You'll get to watch the full series of Adam Smith's "Wealth of Nations" videos. Here are the first couple that are free on our channel. Intro: https://youtu.be/rKtjKdLNeDY Book 1 Chapter 1: https://youtu.be/oJWb_Xh4K20 And if you'd like to contribute subtitles: http://www.youtube.com/timedtext_video?ref=share&v=8iztxFde1kQ Narration --------------------------------------------------------------------------------- The definition of economics is the second weird thing you hear in your first Econ class. So maybe we can tickle out some sense in this video! Another thing you talk about in your first econ class is the definition of economics. That sounds like a sensible thing, right? So here are are couple. Tom Sowell likes Lionel Robbins definition: “Economics is the study of the use of scarce resources which have alternative uses.” My first econ book from college defines economics as “the study of the choices consumers, business managers, and government officials make to attain their goals, given their scarce resources.” Most definitions talk about scarcity because of finite resources and unlimited wants, and decisions about how to use the resources, bla bla bla, not very exciting. But those are really just nice words for something way more BLOODY. We have a limited amount of stuff (land, sea borders suitable for ports, water, iron, time in a day), and unlimited wants and we can all think of lots of ways we want to use the same resources for our own ends. What’s the inevitable result? CONFLICT!!! Yep THAT’S our starting point in economics. And over the millenia we’ve evolved different structures/frameworks/institutions/rules of the game to deal with that conflict. [As hunter gatherers we had structures that were based on traditions, superstitions, social rules, and punishment by the community. After the invention of agriculture and people living together in cities, we added the structures of elites that control the resources and armies of countries and form intermittently stable alliances between them. And more recently we evolved the institutions necessary for modern global market societies.] One of our all time favorite ways to deal with conflict has always been good old fashioned violence and that’s typically what we resort to when our other options fail, but luckily our repertoire includes familial, cultural and religious norms, government decry, market mechanisms, and maybe one day super-computers … at least according to some venus projecters. So here comes my definition … of course I have my own opinion about this! … Economics is the study of those frameworks that we humans set up to deal with that conflict that arises from scarcity, specifically by analyzing consequences. And I’d take it a step further. We know now from economic analysis that competitive markets give us the best outcomes for society, but contrary to the common misconception we don’t get well functioning markets by breaking down all rules. We get markets by setting up the right kind of framework, specifically ones that reliably punish violence and deceit, and don’t interfere with other behavior. That sounds much easier than it is to actually implement in a crazy world with billions of individuals interacting globally. So I think economics today is mostly about discussing how to set up and fine tune the framework or institutions to get the best functioning markets.
Views: 156 Bite-size Econ
Zinc Price | New Century Resources (ASX:NCZ)
 
02:13
Jun 2017 | Over the past number of years a significant amount of global zinc production has come off line with limited new production taking its place. This analysis examines examines the factors that we believe will drive the zinc price higher and examine the opportunities for investment. To learn more please visit: http://www.newcenturyresources.com/
Resource Allocation
 
04:14
8 ways the government can allocate scarce resources
Views: 2814 Krista Homakie
Tough Choices
 
00:52
Tough Choices [3/10] by openlectures So what if there are limited resources but unlimited wants? Well that makes choices necessary. -- ^^^ SUBSCRIBE above for more quick lectures! ^^^ VISIT openlectures: http://openlectures.org ABOUT openlectures: http://openlectures.org/team FOLLOW openlectures: FB - http://facebook.com/OpenLectures
Views: 684 openlectures sg
The Future of Food and Agriculture: Trends and Challenges
 
03:14
A new FAO report outlines trends and challenges in food and agriculture, facing population growth, limited resources and climate change, as illustrated by Lorenzo Bellu', FAO Senior Economist. Subscribe! http://www.youtube.com/subscription_center?add_user=FAOoftheUN Follow #UNFAO on social media! * Facebook - https://www.facebook.com/UNFAO * Google+ - https://plus.google.com/+UNFAO * Instagram - https://instagram.com/unfao/ * LinkedIn - https://www.linkedin.com/company/fao * Twitter - http://www.twitter.com/faoknowledge © FAO: http://www.fao.org
Fossil Fuels 101
 
02:43
Fossil fuel is a term used to describe a group of energy sources that were formed when ancient plants and organisms were subject to intense heat and pressure over millions of years. Learn more about the fossil fuels and all types of energy at www.studentenergy.org
Views: 619565 Student Energy
Scarcity and Choice
 
04:36
Scarcity and choice are important in economics because there would be no economy if there was no scarcity (limitation in resources) and no choice as to how these resources would be used. Explanation: Scarcity and choice are the founding blocks of the story of economics. Scarcity in economics refers to limited resources against unlimited wants. Choice is the alternative between them. Economics deals with the study of human behavior and how humans allocate their limited resources (scarcity) with their unlimited wants. Since we have limited resources, we usually have to choose one option (choice) and forgo the other. This phenomenon is called "opportunity cost" . Our wants change when we consume more of one particular option, Its value diminishes and we start preferring some other option. This is called 'utility' or 'diminishing utility' as a progressive term.
Views: 195 Tiến Đạt Vũ
Economic Development Unit:  Common Characteristics of Developing Countries
 
09:46
Your IB Economics Course Companion! This is video 4 of 6 videos in “The Economic Development Series”. Watch the entire series right here: https://www.youtube.com/playlist?list=PLNI2Up0JUWkEhlr-c4dpa1xqQf-Sq2BXv The List! Here is the “The List” for “The Economic Development Series”: For an explanation of the logic of “The Lists” click here: https://youtu.be/dE0fbsgXlFE What is economic development? Sources of economic growth 1. Natural factors 2. Human capital factors 3. Physical capital and technological factors 4. Institutional factors Does economic growth lead to economic development? 1. Higher incomes 2. Improved economic indicators of welfare 3. Higher government revenues 4. Creation of inequality 5. Negative externalities and lack of sustainability Common characteristics of developing countries 1. Low standard of living, low incomes, inequality, poor health, and inadequate education 2. Low levels of productivity 3. High rates of population growth and dependency burdens (child and old age ratios) 4. High and rising levels of unemployment and underemployment 5. Substantial dependence on agricultural production and primary market exports 6. Prevalence of imperfect markets and limited information 7. Dominance, dependence, and vulnerability in international relations Diversity among developing nations 1. Resource endowment 2. Historical background 3. Geographic and demographic factors 4. Ethnic and religious breakdown 5. The structure of industry 6. Per capita income levels 7. Political structure International development goals 1. Goal 1: Eradicate extreme poverty and hunger 2. Goal 2: Achieve universal primary education 3. Goal 3: Promote gender equality and empower women 4. Goal 4: Reduce child mortality 5. Goal 5: Improve maternal health 6. Goal 6: Combat HIV/AIDS, malaria, and other diseases 7. Goal 7: Ensure environmental sustainability 8. Goal 8: Develop a Global Partnership for Development I hope you find these videos helpful to your study of Economics. Enjoy! Brad Cartwright . Follow on Twitter: IB Specific News and Analysis Daily! https://twitter.com/econ_ib . Follow on Instagram: https://www.instagram.com/econcoursecompanion/
Views: 18000 Econ Course Companion
Economic Scarcity and the Function of Choice
 
03:02
Visit Study.com for thousands more videos like this one. You'll get full access to our interactive quizzes and transcripts and can find out how to use our videos to earn real college credit. YouTube hosts only the first few lessons in each course. The rest are at Study.com. Take the next step in your educational future and graduate with less debt and in less time.
Views: 39277 Study.com
Production Possibilities Curve- Econ 1.1
 
05:36
In this video I explain how the production possibilities curve (PPC) shows scarcity, trade-offs, opportunity cost, and efficiency. This is the first graph you are going to learn in your economics class. Thanks for watching. Please subscribe. If you need more help, check out the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji
Views: 1037583 Jacob Clifford
Ecosystem Ecology: Links in the Chain - Crash Course Ecology #7
 
10:10
Hank brings us to the next level of ecological study with ecosystem ecology, which looks at how energy, nutrients, and materials are getting shuffled around within an ecosystem (a collection of living and nonliving things interacting in a specific place), and which basically comes down to who is eating who. Like Crash Course! http://www.facebook.com/YouTubeCrashCourse Follow Crash Course! http://www.twitter.com/TheCrashCourse Table of Contents 1) Defining Ecosystems 0:49:1 2) Trophic Structure 4:44:1 a) Primary Producers 5:27 b) Primary Consumers 5:41 c) Secondary Consumers 5:49:1 d) Tertiary Consumers 5:58:2 e) Detrivores 6:08:1 3) Bioaccumulation 8:47 References and image licenses for this episode in the Google doc here: http://dft.ba/-3f2M Support CrashCourse on Subbable: http://subbable.com/crashcourse
Views: 776019 CrashCourse
7. Other Resources
 
02:48
Views: 1051 Choose Work
Chapter 7: Grasslands Uruguay's 4x Capital Advantage in Farmland Investment
 
03:01
http://www.grasslandsuy.com/ Superior Farmland Investments in Uruguay. More video: http://bit.ly/1wAmxke In this installment, J. Arlon Keegan http://linkd.in/1yr1cfd discuss the benefits of firsthand, direct farmland ownership with Grasslands Uruguay versus other farming investment and wealth preservation initiatives. Grasslands http://www.grasslandsuy.com/ brings the best of both worlds together in a hybrid approach to owning superior farmland in Uruguay. We believe that water, food and energy will continue to increase in value as worldwide demand grows and fiat currencies inflate. Grasslands' objective is to preserve wealth from relentless inflation and the erosion of purchasing power of the US dollar. INTERESTING TIMES Multiple growth factors are increasing demand on the global food supply against limited resources. DOLLARS INTO DIRT Farmland is a hard asset that provides income from crops and land appreciation opportunity. IDEAL CONDITIONS Uruguay possesses the right combination of natural, political and economic characteristics to optimize farmland investments. For more information or to contact Arlon Keegan, Doug Bell or his team, visit the website http://www.grasslandsuy.com/ Video Production, Digital Media and Marketing Support provided by http://amplificationinc.com/ Camera/Editing: Brian Hunting
PWN Global Webinar: Entrepreneurs - How To Cultivate Your Business With Creative Resource Managemen
 
53:31
One of the keys to entrepreneurial success is optimizing limited resources to take advantage of identified business opportunities. This Webinar walks through how to do just that and gives concrete examples based on the case study of the hosts business over the past ten years. Tahminae Madani, Financial Services Entrepreneur and Olivier Basso, Professor of Entrepreneurship, offer you excellent insights into this topic that can help your business thrive. PWN Global is a dynamic fast-growing offline and online networking and leadership development platform for professional women of all sectors and industries. With over 3,500 members and more than 90 nationalities, our volunteer-led organisation delivers over 600 events a year in our community of 24 city networks. We welcome you to our events; as a mentor or mentee; to explore our rich knowledge and resources; to learn, grow and leave your legacy, whilst volunteering across the Federation and our City Networks. Want to become a member of PWN Global ? Join us here: https://www.pwnglobal.net/join-us/individual-member.html
Views: 92 PWNGlobal
Economics Chapter 1 part 2 (Scarcity, Wants, Basic Economic Problem, Factors of Production)
 
08:33
This video is part of Baitussalam Educational Foundation's O-Level Economics video series, produced by our volunteers. The video follows the CIE O Level curriculum guided by the following books: • IGCSE and O Level Economics by Susan Grant • Economics: A complete course for IGCSE and O level by Dan Moynihan & Brian Titley This Video includes: 00:00:23 Scarcity 00:00:59 Wants 00:01:31 Economic Problem 00:01:38 Video by Investopedia (www.investopedia.com) 00:03:13 Activity 00:03:53 Factors Of Production 00:04:18 Land 00:04:50 Labor 00:05:52 Capital 00:06:59 Enterprise 00:07:42 Summary 00:08:25 Credits www.bef.baitusslam.org www.facebook.com/BaitussalamEducationalFoundation [email protected] Ground Floor 26-C, Sunset commercial street number 2, Khayaban-e-Jami, Phase 4 Defense Karachi Pakistan +92342 3382283
Optimal Product Mix Calculation
 
09:16
How does a company determine which product mix will generate the most profit? This video explores an optimal product mix with just a time constraint. We then go on to discuss how the numbers will change if a second constraint, demand, is added. For more help with accounting, please visit my website http://AccountingInFocus.com.
Views: 25267 Kristin Ingram
Soils & climate
 
04:33
Soil is the living base for agricultural and forestry production and a limited resource which cannot be renewed at the human scale. Increasingly, land is in demand and there is tension between different land uses. Changes in production practices, ploughing up of grassland, loss of arable and wooded land for urbanisation, increased use of biomass...There are so many changes which, if not taken into account, could affect soil quality and lower soil carbon stocks See also the ADEME brochure “Organic carbon in soils, meeting climate change and food security challenges”: http://www.ademe.fr/organic-carbon-in-soils-meeting-climate-change-and-food-security-challenges ADEME/ImageClé©
Views: 2886 ademe
Agricultural Water Management 101
 
06:01
Agricultural Water Management 101, by Prinsco, a family owned company innovating to impact agricultural efficiency since 1975. This presentation will take you through the basics of effective water management in an agricultural application, how it works and why it has the potential to dramatically improve crop health and productivity. www.prinsco.com
Views: 54407 Prinsco Inc