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POLITICO-ECONOMIC SELF NOTES
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  • Course
  • GEUTS01X (GEUTS01X)
  • Institution
  • National University

Certainly! Let's simplify the elaboration without using jargon: "This document thoroughly explores how our political and economic backgrounds shape who we are..." - "Thoroughly explores": The document takes a deep look into the topic. "...providing a lot of useful information, including di...

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Document information

  • March 3, 2024
  • 3
  • 2023/2024
  • Class notes
  • Michael
  • All classes

Subjects

  • politics
  • politico economic self
  • self
  • economics
  • economists
  • economic self
  • political self
  • politico economic
  • uts notes
  • tips
  • notes

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  • National University
  • GEUTS01X (GEUTS01X)
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POLITICO - ECONOMIC SELF


Economist: Explains the self based on the resources we have and how we think it
should flow.


Political Scientist: Explains the self through our view of what power is and how much
of it we hold.


The power we hold is related to the resources we enjoy.


Economics: Study of consumption behavior under conditions of scarcity.
Scarcity: Situation in which something is insufficient to satisfy the desire for it.


We have Economics because we have unlimited needs but only limited resources.


Types of Needs:


- Physiological/Biological Needs: Universal needs of the body [food, clean water,
medicine]
- Practical Needs: Needs needed for easier living [gadgets, appliances]
- Social Needs: Needs for maintaining relationships
- Recreational Needs: Needs to reduce stress and unwind.




Categories of Resources:
- Labor [working people]
- Capital
- Human Capital
- Capital Stock
- Land/ natural resources
- Entrepreneurship


Economic Principles:

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