What is economics

Conclusion
1. ALFRED Marshall s definition. Economics is a study of mankind in the ordinary

business of life. Because economic problems have certain common features, one may, by looking at them. The problems of economics arise out of the use of scarce resources to satisfy unlimited humant wants. Scarcity is inevitble and is central to economis problems.
2. Goods and services are the means by which people seek to satisfy some of their

wants.For most people in most societies goods are not regarded as desirable in themselves; few people want to pile them up endlessly in they provide. An automobile, for example, helps to satisfy its owners desires for transportation, mobility, and possibly status.
3. For all practical purposes, humant wants may be regarded as limitles. An occasional

individual may have everthing, but human capacity to generate new wants as fast as old ones are satisfied is well known to psychologist.

What is the demand

Conclusion
1. There are four bones in the theory. Two are in the goods market. They are consumption and investment. Together, consumption and invesment are equal to total demand. Two bones are in the money market. (Demand manifest itself through money. People need money to buy goods). There are two kinds of demand for money. They are transactions and speculation. 2. What happened if govermentns reduce income taxes?. Lets start with the goods market. What determines consumption and invesment? They are related. As income increases, so does consumption. People change spending patterns if they think their income has changed in permanent way. 3. Invesment is a more difculty idea. Several diffrent factors detrmine it. The most important is interest rates. If interest ratest rise, companies may not hold as much inventory. They may put their money into a bank. At bank, the money will earn interest income. The companies may decide to cancel projet that need capital

Management
Conclusion
1. Management comprises directing and controling a group of one or more people or

entities for the purpose of coordinating and harmonizing that group towards accomplishing a goal. Management often encompasses the deployment and manipulation of humant resources, and natural recourses. Management can also refer to the person or people who perform the acts of management 2. Many functions of management: 1. 2. 3. 4. Planning, Organizing, Leading/Motivating, Controlling

Management Theory Development Conclusion

1. By about 1900 one finds managers tryng to place their theories on what the

regarded as througlhy scientific basis. Examlpes include Henry R. Towness Science of management in the 1980s, in 1912 Yoichy Ueno introduced Taylorism to Japan nd became first management consoltant of the Japanese-management style. His son Ichiro Ueno pioneered Japanese quality assurance.
2. The first comprehensive rheories of management appeared around 1920. Peter

Drucker (1909-2005) wrote one of the earliest books on applied management: Concept of the Corporation (published in 1946). H dodge, Ronald Fisher (18901962), and thorton C. Fry introduced statical techniques into management studies. In the 1940s, Patrick Blaket combined these statical theories with microeconomic theory and gave birth to the science of operasion research. Operasion research, sometimes known s mnagement science.

NATURE OF MANAGERIAL WORK

CONCLUSION 1. In profit work, management has as its primary function the satisfaction of range of stakeholders. This typically involves making a profit (for the shareholders), creating valued products at a resoanable cost (for costumer), and providing rewarding employment oppurtunities(for employes).
2. In the public sector of countries constituted as representative democracies, voters

elect politicians to public office. Such politcians hire many managers and administrator, and in some countries like the United States political appointees lose their jobs on the election of a new president/governor/mayor.

HUMANT RESOURCE MANAGEMENT

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CONCLUSION 1. Humant resources is a buzzword which has been widely used for replacing the proper personel concept. Even with this new buzzword, one should not confuse the field of industrial/organizational Psychology. 2. Humant resources management serves these keys function a. Hiring b. Compensation c. Evaluation and management d. Promotion e. Managing Relations f. Planning 3. In reality, human resources deals with two diffrent worlds: a. Non-unionized-Where management has the control; and b. Unionized- Where there is shared control through a collective aggrement.

ACCOUNTANCY
CONCLUSION
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1. Accountancy (profesion) or accounting (methodologi) Is the measurment, disclosure or provision of assurance about financial decision makers to make resources allocation decision within companies,organisation, and public agencies. 2. Accounting is the discipline of measuring, communicating, and interpreting financial activity.
3. Practitioners of accountancy are known as accountants. There are many

profesional bodies for accountants throught the world. Examples are Chartered Accountant (FCA, CA, or ACA). Etc.