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E - Content- Economic thoughts
NSS TRAINING COLLEGE OTTAPALAM ICT- WORKSHOP DIGITAL TEXT Name of the teacher: Athira.k Date: 20/5/22 Department: social science Class: 8 th Subject: social science Duration: 40 minutes Unit: Economic thoughts Topic : Economic thoughts OBJECTIVE The study of Economic thoughts helps, 1.To Understand the economy , economic activities and factors of production. 2.To identify the major problems facing by an economy 3. To understand and distinguish different economic thoughts and economists. E-content relation to the composition of total output in the economy. Since resources are scarce, the society has to decide about the goods to be produced: wheat, cloth, roads, television, power, buildings, and so on. Once the nature of goods to be produced is decided, then their quantities are to be decided. How many tonnes of wheat, how many televisions, how many million kw of power, how many buildings, etc. Since the resources of the economy are scarce, the problem of the nature of goods and their
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