Академический Документы
Профессиональный Документы
Культура Документы
WEB BROWSER
. It displays a web page on a monitor/mobile device.
PROBLEMS WITH WEB 3.0
TRENDS IN ICT
MOBILE OS
IOS – use in Apple devices such as Iphones and Ipad.
ANDROID – an open source OS developed by Google.
Being open source means mobile phone companies use
this OS for free.
BLACKBERRY OS – uses in Blackberry devices.
WINDOWS PHONE OS – a closed source & propriery OS
developed by Microsoft.
SYMBIAN – the original smartphones OS used by Nokia
devices.
WebOS – originally used in smartphones, now used in
smart TVs.
WINDOWS MOBILE – developed by Microsoft for
smartphones and pocket PCs.
APPLIED ECONOMICS
SCARCITY – productive resources are limited therefore, you PURE COMMAND ECONOMY
cannot have all the goods and services you want.
-an economic system in which all resources are
PRODUCTIVE RESOURCES – the inputs used to produce the
government owned and all production is directed by
goods and services that people wants.
the central plans of government.
ECONOMICS – study of how people use their scarce resources
to satisfy their unlimited wants. PROBLEMS W/ PURE COMMAND ECONOMY
NATURAL RESOURCES – so called “gift of nature” use to
produce goods and services include both renewable and 1. Consumers get lower priority.
exhaustible resources. 2. Little freedom of choice
CAPITAL GOODS – all human creations used to produce goods 3. Central planning can be inefficient
and services 4. Resources owned by the central authority are
GOOD – an item you can see, feel & touch that requires scarce sometimes wasted.
resources to produce and satisfies human wants. 5. Environmental damage
SERVICE – something not physical that requires scarce 6. No role for entrepreneur.
resources to produce and satisfies human wants.
MIXED ECONOMY - an economic system that mixes
HUMAN RESOURCES – the broad category of human efforts,
central planning w/ competitive markets.
both physical & mental used to produce goods & services.
LABOR – the physical and mental effort used to produce good
TRANSITIONAL ECONOMY – an economic system in
services.
the process of shifting from central planning to
ENTREPRENEUR – a profit seeker who develops a new
competitive markets.
product/ process & assumes the risk of profit/loss.
MARGINAL – incremental, additional; refers to change in an
TRADITIONAL ECONOMY – an economic system
economic variable; a change in status quo.
shaped largely by custom/religion.
MICROECONOMICS – study of the economic behavior in
particular market.
DEMAND – A relation showing the quantities of a
MACROECONOMICS – study of economic behavior of the
good that consumers are willing and able to buy
economy as a whole, especially the national economy.
period at various prices, other things constant.
MARKET PARTICIPANT
MARKET DEMAND – the sum of the individual
Household demands of all consumers in the market.
Firms
Government CHANGES in the shift of the demand curve:
Rest of the world 1. Consumer income
MARKET the means by which buyers and sellers carry out 2. The prices of related goods
exchange. 3. The number & composition of consumers
OPPURTUNITY COST – the value of the best alternative passed 4. Consumer expectations
up for the chosen item/activity. 5. Consumer taste
ECONOMIC SYSTEM – the set of mechanisms & institutions
that resolves the what, how & whom question for an economy DETERMINANTS OF SUPPLY
1. The cost of resources use to make the good.
ALL ECONOMIES MUST ANSWER THE 3 QUESTION: 2. The price of other goods these resources
What goods and services will be produced? could make
How will they produced? 3. The technology used to make the goods
For whom will they produced? 4. The no. of sellers in the market.