ECO162 CHAP1 ASSIGNMENT REPORT terbaru.docx - DIPLOMA IN ACCOUNTING FACULTY OF ACCOUNTANCY INTRODUCTION TO ECONOMICS NO GROUP MEMBERS STUDENT ID 1 WAFI

ECO162 CHAP1 ASSIGNMENT REPORT terbaru.docx - DIPLOMA IN...

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DIPLOMA IN ACCOUNTINGFACULTY OF ACCOUNTANCYINTRODUCTION TO ECONOMICSNO.GROUP MEMBERSSTUDENT ID1.WAFI ZAKIRAH BINTI ARSHAD20192740442.ANISA SOPHIA BINTI MAHADI20199421993.AHMAD SOLEHIN BIN AHMAD RIZAL20195484714.MUHAMMAD AMIRUL HAFIZ BIN NORAZMI20193213375.NUR NAJIEHA BINTI ZAMNOR20192736086.MUHAMMAD AKMAL HAZIM BIN RAFINDDE2019435634MICROECONOMICS (ECO 162)A4AC1101ESEPTEMBER 2019ii
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TOPICS PAGES1.0.ACKNOWLEDGEMENT2.0.CONTENTS2.1.DEFINITION OF ECONOMICS -Microeconomics-Macroeconomics 2.2.BASIC ECONOMY CONCEPT-Scarcity -Choices -Opportunity Cost2.3.BASIC ECONOMIC PROBLEMS-What to Produce-How to Produce-For whom to Produce2.4.PRODUCTION POSSIBILITIES CURVE(PPC)-Factor that influence the shift of PPC -Shape of PPC 2.5.ECONOMIC SYSTEM-Mixed Economy -Capitalism Economy -Socialism Economy-Islamic Economy3.0.CONCLUSION4.0.REFERENCES3
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1.0.ACKNOWLEDGEMENTFirstly, we would like grateful to ‘Allah’ Almighty for giving us the strength, knowledge,ability and opportunity to complete this assignment. We would like to thank Mr ZarulAzhar Bin Nazir, our teacher, for leading us from beginning to end in this mission. We dowish to thank everyone who helped us write this assignment directly and indirectly. Manypeople, particularly our classmates and group members, made helpful suggestionsregarding this job, which motivated us and gave us an idea to better our work. After all,we actually had a great responsibility from each other to finish this team task.4
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2.0.CONTENT2.1.DEFINITION OF ECONOMICSEconomy is the field of social science, in order to maximize the production of goodsand services in order to fulfill the limitless demands and wishes of man, which studiesthe actions of individuals and society in distributing and allocating limited productionfactors.In economic research, the subject of microeconomics and macroeconomicsis covered.OREconomics is a study of how people use their restricted resourcesto try to fulfil unlimitedwantsand involves alternatives or choices.Economics is the social science which analyzes goods and services production, distributionand consumption. Economics seeks to explain how economies operate and the role ofeconomic agents. Economic analyzes are being used in society as a whole, not only in thesectors of trade, finance and government, but also on the subjects of crime and health,family, medical and legal issues.-MicroeconomicsMicroeconomics is one of the economics social science's number one issue. Thisperiodically addresses consumer behaviour, companies, businesses and industries. It is anexamination of the decision to allocate limited resources in markets in which goods andservices are bought and sold by households, firms and individuals.In addition, microeconomics focuses on the impact of consumption and decision-making onsupply and demand of goods and services that determine how these prices are set on themarket. Therefore, it has several ideas that apply to a real situation around the world. It hasbeen an enduring fact that resource supply is always limited to the planet, even though itvaries in amounts. On the other hand, individuals and companies have limitless needs and
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