THE WORLD OF ECONOMICS ISSUES 1. Allocation of the scarce resources within the society, resources in this sense means water, land, capital, other natural resources etc. 2. Human needs or desires are characterized in such a way that they are unlimited. 3. The resources are also scarce in nature such that they cannot satisfy the unlimited human needs. Economists are therefore faced with the problem of allocating these resources efficiently, equally and with enough degree of justice. Formulation of policies is the driving force and Production becomes key for an economist Corporate mangers therefore must have these simple economic knowledge in their analysis and decision making. Find here below KEY ECONOMIC ISSUES 1. Production possibility frontier. 2. The indifference curve. 3. Supply-Demand curve. (Long run & Short run curves) 4. The inflation and unemployment relationship: price decision. 5. The Pareto efficiency for welfare of the society : as a result of the organization implementing a particular programme in a community Economic Empowerment for the community is also a key issue. DATA NEEDS. 1. Data collection is key 2. Use of SPSS ,STATA,EXCEL etc. 3. Analysis of such data is therefore the key backup of such policy formulation. ECONOMIC STIMULUS PROJECTS 1. Such projects that improve economic empowerment of the community
Posted on: Tue, 27 Aug 2013 10:01:46 +0000
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