f 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.

5:22 pm  ,  No comments

  BASIC ECONOMIC PROBLEMS IN THE SOCIETY.

Hey Guyz, Happy Monday. It’s actually the first Monday in the month of May and it’s such an honour to be ALIVE don’t you think? Well today we continue Econs. 101.
Basic Economics Problems refer to the problems people encounter in the society, while trying to satisfy their numerous human wants, and with the limited resources available. They include- What to Produce, How to produce, for whom to produce and Efficiency of Resource use.
WHAT TO PRODUCE.
The question of what to produce is one of the basic economic problems that confronts any society. This arises mainly as a result of the fact that human wants are unlimited relative to the available resources. It is impossible for all of human wants to be satisfied, thus the need to allocate resources in order of priority is crucial.
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

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ECONS 101.

1:32 pm  ,  No comments



BRANCHES OF ECONOMICS.

Hey Guyz, Happy Last day of the week. Happy Friday, It’s a lovely day don’t you agree?. Am just too grateful for life and Beauty.

 Let’s get straight to work.
Economics can be grouped into two major groups namely: Micro- Economics and Macro- Economics.
MICRO-ECONOMICS.
Micro- Economics refers to the branch of economics that deals with smaller units/components of the economy. It is the branch of economics that studies the economic actions of individuals, firms and governments. It relates to cost, output, production, pricing and the marketing activities of households, firms and governments.
ADVANTAGES OF MICRO- ECONOMICS:
1.     Better Understanding- Micro- economics helps in the better understanding of the

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ECONS 101.

10:59 am  ,  No comments



        BASIC CONCEPTS OF ECONOMICS CONTD.

Hey Guyz, HAPPY WORKERS DAY to the viewers in Nigeria. It’s a day to recognize the workers of all levels in Nigeria and I Pray for more strength and grace to work effectively and productively and most of all joyfully.

It’s a new day isn’t it; we are going to continue from where we stopped in Economics 101. Let’s get started.

CHOICE.
Choice can be defined as a system of selecting or choosing one out of a number of alternatives. Choice arises as a result of numerous human wants and the scarcity of the resources used in satisfying these wants. Human Wants are many and can’t all be satisfied.
OPPORTUNITY COST.

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