Unit 2 Text B
The science of economics is based upon the facts of our everyday lives. Economics study our everyday lives and the general life of our communities in order to understand the whole economic system of which we are part. They try to describe the facts of economy in which we live, and to explain how it all works.The economisit’s methods should of course be strictly objective and scientific.
The science of economics is based upon the facts of our everyday lives. Economics study our everyday lives and the general life of our communities in order to understand the whole economic system of which we are part. They try to describe the facts of economy in which we live, and to explain how it all works.The economisit’s methods should of course be strictly objective and scientific.
We need food, clothes and shelter. We probably not would not go to work if we could satisfy these basic needs without working. But even when we have saisfied such basic needs, we may still want other things. Our lives might be more enjoyable if we had such things as radios, books and toys for the children. Human beings certainly have a wide and very complex range of wants. The science of economics is concerned with all our material needs: it is concerned with the desire to have a radio as well as basic necessity of having enough food to eat.
Exercises
1. Say whether these statements are true (T) or False (F), and if they are false say why.
a. (T) Economics is a scientific study.
a. (T) Economics is a scientific study.
Because conomics is based upon the facts of our everyday lives.
b. (F) Economists try to unerstand only part of economic system.
Because economists study our everyday lives and general life to understand the whole
economic system in which we live, and how it all works.
c. (F) If we could satisfy our basic needs without working, we would still work.
Because we may still want another needs by works.
d. (F) Radios, books and toys are basic comodities.
Because our life be more enjoyable with that such things.
e. (T) The range of human wants is very complex.
Because economy is concerned with all human needs that is concerned with the desire of
human wants.
f. (F) Clothes and shelter are non essential human needs.
Because it is included in human basic needs.
g. (F) Economic studies are essentially non-scientific.
Because economists method’s should of course be strictly objective and scientific.
h. (T) Economists study the general life of our communities.
Because economic study in our general life in order to understand the whole economic
System of which we are part.
