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Реферат Economics. Demand, supply, and elasticity

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Текст реферата Economics. Demand, supply, and elasticity

Федеральное агентство по образованию
Государственное образовательное учреждение высшего професси о
нального
образования
Тульский государственный университет
Факультет Экономики и права
Реферат по дисциплине «Английский язык»
«Economics. Demand, supply, and elasticity»
Выполнил Чернышова Д.В.
группы 720151
Научный руководитель Камаева Л.С.
Тула , 2007
Contents
Introduction 3
1. Economics 4
2. Demand, supply, and elasticity 8
Summary 11
List of literature 12
Introduction
Economics is the ancient science. Economics is the method and the
instr u ment of thinking. It is helps us to come to a right
conclusion. It always attracts a t tention of scientific and educated
people. Today the interest for economics is gro w ing.
Although for many people concern for the economy goes no further than
the price of tuition or the fear of losing a job. Many others,
however, know that their job prospects and the prices they pay are
somehow related to national trends in prices, unemployment, and
economic growth.
The scope of economics is indicated by the facts with which it deals.
These consist mainly of data on output, income, employment,
expenditure, interest rates, prices and related magnitudes associated
with individual activities of production, transportation and trade.
1. Economics
As a scholarly disc ipline, economics is two centurie s old. The first
scientist who made extraordinary contributions in economics was Adam
Smith. At the age of 28 Adam Smith became Professor of Logic at the
University of Glasgow. Some time later he became a tutor to a wealthy
Scottish duke. Then he received a grant and with the financial
security of this grant, Smith devoted 10 years to writing his work
“The Wealth of Nations” which economic science. It was
published in 1776. His contribution was to ana ly ze the way that
markets organized economic life and produced rapid economic growth.
Almost a century later, as capitalist enterprises began to spread,
there appeared the massive critique of capitalism: Karl Marx’ s
“Capital”. Marx proclaimed that capitalism was doomed and
would soon be fo l lowed by business depressions, revolutionary
upheavals and socialism.
In 1936 John Maynard Keynes published “The Genera l Theory of
Emplo y ment, Interest and Money”. Economics was supposed to help
government mon e tary and fiscal policies to tame the worst ravages of
business cycles.
Economics is the study of how society allocates scarce resources and
goods. Resources are the inputs that society uses to produce output,
called goods. R e sources include inputs such as labor, capital, and
land. Goods include products such as food clothing, and housing as
well as services such as those provided by doctors, repairmen, and
police offices. These resources and goods are considered scarce
because of society’ s tendency to demand more resources and
goods than are available.
Most resources are scarce, but some are not — for