f 02/27/15 ~ EDU-MADE-EASY BLOG

Education is an ornament in prosperity and a refuge in adversity.

It is as impossible to withhold education from the receptive mind as it is impossible to force it upon the unreasoning. - Agnes Repplierg

Education aims to give you a boost up the ladder of knowledge.

Educating the mind without educating the heart is no education at all. - Aristotle

He who opens a school door, closes a prison.

If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest. - Ben Franklin

To the uneducated, an A is just three sticks.

To teach a man how he may learn to grow independently, and for himself, is perhaps the greatest service that one man can do another.

If you think education is expensive, try ignorance.

Education is what remains after one has forgotten what one has learned in school.

ECONS 101

 BASIC ECONOMIC PROBLEMS IN THE SOCIETY
Hey Guyz, Happy Friday. We made it to the last Friday of the month of February!!!. It’s such an honour to be ALIVE, don’t you think? So we didn't conclude the Topic- Basic Economic Problems- below is the conclusion of that topic. Pls Enjoy !!!.

FACTORS DETERMINING WHAT TO PRODUCE:
1.     Market Demand- The demand of a particular set of goods and services by customers may encourage producers to produce more of these goods and services. No producer will ever produce what is not demanded by the market.
2.     Type of Economy- This goes a long way in determining the type of goods and services produced in a country. For Example, In a Capitalist Economy, the Price System determines the type and quantity of goods and services produced bearing in mind that, profit is the major determinant of what to produce, whereas in a Socialist Economy the state controls and directs the allocation of resources.
3.     Availability of Resources- When resources for production are available and affordable. Producers will be encouraged to produce, but when resources are not available there will be no production. Since resources are limited producers may not always have enough to produce