Human wants are unlimited, but the

Human wants are unlimited, but the resources necessary to satisfy those wants are limited. Thus, every society is faced with the identical problem, the problem of scarcity. Since there is not enough of everything to go around, everyone – individuals, business firms, and government – needs to make choices from among the things they want. In the process they will try to economize, to get the most from what they have. With this in mind we can define economics as the social science that describes and analyzes choices from among scarce resources to satisfy its wants. The need to choose is imposed on us by our income, wealth and ability to borrow.

The food you eat, the home you live in, the clothes you wear, and the way you spend your leisure time are all affected, in part, by economic forces. The study of economics will help you to live a fuller life. Economic forces also affect decisions in the world of business. The more you know about the subject, the better career decisions you will be able to make.

The development of modern economics began in the 17th century. Since that time economists have developed methods for studying and explaining how individuals, business and nations use their available economic resources. Large corporations use economists to study the way they do business and to suggest methods for making more efficient use of their employees, equipment, factories, and other resources.

Economists have two ways of looking at economics and the economy. One is macro approach, and the other is the micro. Macroeconomics is the study of the economy as a whole. Microeconomics is the study of individual consumers and the business firm.




The resources that go into the creation of goods and services are called the factors of production. The factors of production include natural resources, human resources, capital and entrepreneurship. Each factor of production has a place in our economic system, and each has a particular function. Our country is rich in natural resources. Economists also use the term «land» when they speak of natural resources as a factor of production.

The price paid for the use of land is called rent. Rent becomes income to the owner of the land. Economists call the physical and mental effort that people put into the creation of goods and services labor or human resources.

The price paid for the use of labor is called wages. Wages represent income to workers, who own their labor. Capital is something created by people to produce other goods and services. A factory, tools and machines are capital resources. The term capital is often used by business people to refer to money they can use to buy factories, machinery and other similar productive resources.

Payment for the use of someone else’s money or capital is called interest.

Результаты (русский) 1:

Человеческие желания безграничны, однако ресурсы, необходимые для удовлетворения тех, хочет ограничены. Таким образом каждое общество сталкивается с идентичной проблемой, проблема дефицита. Поскольку не достаточно все, чтобы идти, все – лица, коммерческие фирмы и правительства – необходимо сделать выбор из числа вещей, которые они хотят. В процессе они будут стараться экономить, чтобы получить максимальную отдачу от того, что они имеют. Имея это в виду, мы можем определить экономика как социальная наука, которая описывает и анализирует выбор из числа ограниченных ресурсов для удовлетворения своих желаний. Необходимость выбора накладывается на нас нашего дохода, богатства и возможность заимствовать средства.Пища, которую вы едите, дом, где вы живете, одежду, которую вы носите, и как вы проводите свободное время, все затронуты, в частности, экономических сил. Изучение экономики поможет вам жить полной жизнью. Экономические факторы также влияют на решения в мире бизнеса. Чем больше вы знаете о предмете, лучше карьеры решения, которые вы сможете сделать.Развитие современной экономики началось в XVII веке. С того времени экономисты разработали методы для изучения и объясняя, как частных лиц, Бизнес и Наций использовать имеющиеся экономические ресурсы. Крупные корпорации используют экономисты изучить, как они делают бизнес и предложить методы для обеспечения более эффективного использования своих сотрудников, оборудования, фабрики и другие ресурсы.Economists have two ways of looking at economics and the economy. One is macro approach, and the other is the micro. Macroeconomics is the study of the economy as a whole. Microeconomics is the study of individual consumers and the business firm. The resources that go into the creation of goods and services are called the factors of production. The factors of production include natural resources, human resources, capital and entrepreneurship. Each factor of production has a place in our economic system, and each has a particular function. Our country is rich in natural resources. Economists also use the term «land» when they speak of natural resources as a factor of production.The price paid for the use of land is called rent. Rent becomes income to the owner of the land. Economists call the physical and mental effort that people put into the creation of goods and services labor or human resources.The price paid for the use of labor is called wages. Wages represent income to workers, who own their labor. Capital is something created by people to produce other goods and services. A factory, tools and machines are capital resources. The term capital is often used by business people to refer to money they can use to buy factories, machinery and other similar productive resources.Payment for the use of someone else’s money or capital is called interest.

Результаты (русский) 3:

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