Hope you’ll get 30 points;)

With love, Aliya.

1. Types of goods and products.

Good – is a means to satisfy a need. Goods can be:

• Economic and nit-economic – existence limit the quantity. (unlimit)

• Production and consumer – are used ti create consumers; are final goods.

• Private and public – are used by who pays; are used by all.

• Merit and demerit – are those goods which are always insufficient (недостаточно).

which are always sufficient.

Product – is everything that can be supplied at the market to be used or consumed satisfying a particular need or a want. Products can be:

• Non-durable-не долгосрочный-can be used for countable number of time.

• Durable-долгосрочный.

Classification of products:

• Consumer products-потребительские товары.

  • convenience products-товары повседневного спроса(хлеб, газеты).

  • shopping products-товары предварительного выбора(с торг. марками).

  • specialty products-товары особого спроса(потратить усилия, чтобы найти).

  • unsought products-товары пассивного спроса.

• Industrial products-товары производства.

  • materials and parts-резина, шины.

  • capital item-капитальное оборудование.

  • suppliers and services-вспомогательные(краска, гвозди).

2. The concept of production possibility curve.

Opportunities	Butter	Cannons	Opportunity cost
A	0	15	-
B	1	14	1
C	2	12	2
D	3	9	3
E	4	5	4
F	5	0	5

Крива́я произво́дственных возмо́жностей — это кривая, которая показывает различные комбинации максимальных объёмов производства нескольких (как правило, двух) товаров или услуг, которые могут быть созданы в условиях при полной занятости и использовании всех имеющихся в экономике ресурсов.

3. The concept of specification of property rights.

Specification – means that particular rights are linked to one or several proprietors.

Types of ownership include:

• Private

• State-owned

• Communal

Common

!!!There should be exclusions from access. Property belongs to noone or everyone and can be exhausted; that's why the property should be satisfied by everyone.

4. The stages in history of economics.

The history of economic thought deals with different thinkers and theories in the subject that became political economy and economics from the ancient world to the present day. Economics was born in Greece. It’s divided into 4 stages:

1.Ancient science;

2.Middle ages;

3.Reformation;

4.Modern types.

First economic thoughts were known for the majority of ancient civilization. The term “economics” was invented by Xenophontes. Aristotle divided views into 2 points:

1.Production for own consumption;

2.Derematistics( Production for selling to get income).

St.Thomas Aquinos was the first who described economics in the middle ages. He considered economics from religion point of view.

Information was reflected not in mostly supplies included philosophy and science. After the enlightenment different philosophers and scientists were able to speak. The first scientific economic is called mercantilism.

The first scientific economic is called mercantilism. Mercantilist thought the only form at wealth is money. Mercantilism prohabited cutflow at money and post high import tax in order to expand the export and increase the treasure.

Economic liberalism is the ideological belief in organizing the economy on individualist lines, such that the greatest possible number of economic decisions are made by private individuals and not by collective institutions.