https://padlet.com/arvindtirkey/dpeconyear2 What is Economics? How has DP Economics Year 1 course helped you understand the Economy-market-economic system around you? Do you see-think-make your economic choices and decisions differently than before now? en-us 2018-08-07 13:45:51 UTC 2018-08-08 05:00:49 UTC hello@padlet.com https://padlet.com/arvindtirkey/dpeconyear2/wish/272297409 Economics is often said to be the study of choices – the collective knowledge for us to choose an activity, good or service over its opportunity cost. However, personally, I refer to it as the study of making informed opinions. Economics involves numerous policies and new ideas that cause us to either agree or disagree to whenever they arise. 
DP Economics 1 has helped me grasp the basic concepts of macroeconomics and microeconomics; the underlying economic system has become more apparent in my everyday life. But in retrospect, I tend to make more informed opinions on the circulation of money and the economy (for instance, why taxes or tariffs are imposed) but rather my day-to-day economic choices have not changed much.]]> 2018-08-08 04:51:37 UTC https://padlet.com/arvindtirkey/dpeconyear2/wish/272297409 https://padlet.com/arvindtirkey/dpeconyear2/wish/272297435 Economics is the science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behavior and interaction of economic agents. ]]> 2018-08-08 04:51:53 UTC https://padlet.com/arvindtirkey/dpeconyear2/wish/272297435 https://padlet.com/arvindtirkey/dpeconyear2/wish/272297453 The definition of economics: a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services. (merriam-webster)
The DP Economics Year 1 helped me understand the market system around me through the different  theories and rules. The graph also helped to see the economy clearly and see the changes. After the year 1 course I do think that my economic choices and decisions differently before. I understand the consequences of the action and my role in the economy. ]]> 2018-08-08 04:52:05 UTC https://padlet.com/arvindtirkey/dpeconyear2/wish/272297453 shimdain https://padlet.com/arvindtirkey/dpeconyear2/wish/272297461 Economic is a study basically about how the demand and supply works at not only the domestic market but also  an international market. 
DP Economics Year 1 course helped me to understand the Economy-market-economic systems around me  and learn for my College Scholastic Ability Test.]]> 2018-08-08 04:52:09 UTC https://padlet.com/arvindtirkey/dpeconyear2/wish/272297461 https://padlet.com/arvindtirkey/dpeconyear2/wish/272297468 Economics is a study that studies reasons, choices, and consequences of businesses and governments policies in terms of economy.  

DP Economics Year 1 course helped me understand why the government or the business make such policies or choices. ]]> 2018-08-08 04:52:13 UTC https://padlet.com/arvindtirkey/dpeconyear2/wish/272297468 https://padlet.com/arvindtirkey/dpeconyear2/wish/272297469
According to the Oxford English dictionary, economics is “the branch of knowledge concerned with the production, consumption, and transfer of wealth”.
DP Economics Year 1 course had helped me to understand the system going on in markets and businesses by providing and relating it to real life examples. And this helps me to understand and pay more attention to what is going on around me. And I think I can now make better decisions than before, however, I still have a lot of places to question and learn about it so I can not say that I had changed a lot. ]]> 2018-08-08 04:52:13 UTC https://padlet.com/arvindtirkey/dpeconyear2/wish/272297469 https://padlet.com/arvindtirkey/dpeconyear2/wish/272297500 Economy is the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.

Year 1 course helped me understand the basic economic knowledge

I think I still make the same decisions than I did before, but I became more aware of the surroundings.
 ]]> 2018-08-08 04:52:26 UTC https://padlet.com/arvindtirkey/dpeconyear2/wish/272297500 leesh19 https://padlet.com/arvindtirkey/dpeconyear2/wish/272297554 Economics is a study of how to allocate scarce resources to satisfy the wants and needs of the people, it can be divided into microeconomics (behavior of individuals and firms) and macroeconomics (behavior of economy as a whole) 

The DP Economics Year 1 taught be the basics of economics, through the course I learned how the demand and supply can effect  the quantity and the price of a good and service. And how governments can intervene to move the economy to a desired scenario. 

I now think about why the price of goods changes, and what factors are behind the change. ]]> 2018-08-08 04:52:56 UTC https://padlet.com/arvindtirkey/dpeconyear2/wish/272297554