Econ 101 Principles of Economics with Taxation & LRT

1. Penn Tulabing Larena, CPS,MPA

2. 
Explain the differences between
macroeconomics and microeconomics.
Apply the concepts of scarcity, choice and
opportunity costs for making smart choices.
 Contribution to the different Economists on
the development of Economics
Define of economics and Social Sciences
Learning Outcomes

3. 
 Economics is the study of how human beings satisfy
their material needs and wants.
What is Economics

4. 
 “Economics is the study of
how men and society choose,
with or without the use of
money, to employ scarce
productive resources which
could have alternative uses,
to produce various
commodities over time and
distribute them for
consumption now and in the
future amongst various
people and groups of
society”.
Paul Samuelson

5. 
Economics,
considers economics
as a
“Classified body of
knowledge
concerning human
relationships
clustered about
man’s efforts to earn
a living”
Dr. James L.Clifford

6. 
 Economics
 Is
 The
 Heart
 And
 Soul
 Of
 A
 Nation
Manuel “Mar “Roxas

7. 
 Economics is like you need
to choices must be made
about how to use limited
resources and how you will
 Promote it to local economy
Gary Teves

8. 
An Introduction
believes economics is
concerned with the
production
distribution and use of
material goods and
services
Lloyd G. Reynolds

9. 
Economics
“as a social Science that
studies and seeks to
allocate scarce human
and non-human resources
Wants and desires.
Bernardo Villegas

10. 
 Economics
 Is the backbones of a country
 And to generate the local
resources to make our country
 Progress .
Jose Villanueva Romero
Jr.

11. 
Economics a big
production,
distribution and
consumption of
goods and
services.
Josefino T. Larena Jr.

12. 
 We study economics for a number of reasons. We
want to know how we can make our standard of
living next year better than what we have now. We
want to know whether there will be jobs available for
us.
 As members of a community ,we want to know how
our community, we want to and benefit from that
growth and strength of our nation are important to
us.
Why we study
Economics

13. 
 The questions are not new. People throughout the
ages have looked for answers to these questions. The
study of economics developed to explore
alternatives, to measure the benefit and costs of
policy choices. Corporations have hired economists
to analyse prices and production costs.
What Economists Do

14.  The subject matter of economics is divided into two parts:
 Macroeconomics is the study of the economy as a whole.
Economy refers to the management of
income,expenditures,wealth or resources of a nation.
 Microeconomics is the study of activity in individual
markets.Microeconomics studies the actions of individual
firms and households.
Economics as a Course
of Study

15. 
 A science tries to understand to explain and to
discover the nature of things.
 Physical sciences study physical or natural
phenomena.
 Physical and natural scientists conduct experiments
in their Laboratories to help them explain the forces
in the natural environment.
Why is Economics a
Science?

16. 
 Social Sciences study forces and relationships in our
social environment .
 Along with Psychology ,Sociology, Antropology ,
History and Political Sciences, Economics is a social
science.
 Social Sciences like the physical sciences also try to
explain why events occur in the world around us
Economics is related to
other Social Sciences

17. 
 The Facts of Scarcity
 The economics of the Philippines,the USA and
Russia appear to be very different from one another.
 However,all economic problem is scarcity ,in the
sense that no country is able to produce as much
goods as its citzens would like to consume.
 Goods are scarce because ,land ,labor, marchinery
and other productive resources are scarce.
What is scarcity ?

18. 
What is to be produced?
How is it to b produced ?
For whom is it to be produced?
The Four Questions

19. 
Museum of Philippine
Economic History

20. 
 Economics is the concerned with Production
 Economics is Concerned with Distribution
 Economics is concerned with Consumption
 Economics is concerned with Good and Servives
 Economics deals with Public Finance
What are the Division of
Economics

21. 

22. 