Social Studies: Important Notes

Notes 23

When economists refer to the "opportunity cost" of a resource, they mean the value of the next-highest-valued alternative use of that resource. If, for example, you spend time and money going to a movie, you cannot spend that time at home reading a book, and you can't spend the money on something else. Opportunity costs represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another. Understanding the potential missed opportunities foregone by choosing one investment over another allows for better decision-making.

Think of capital as the machinery, tools and buildings humans use to produce goods and services. Some common examples of capital include hammers, forklifts, conveyer belts, computers, and delivery vans. The income earned by owners of capital resources is interest. The fourth factor of production is entrepreneurship.

Capital goods are physical assets that a company uses in the production process to manufacture products and services that consumers will later use. Capital goods include buildings, machinery, equipment, vehicles, and tools. Capital goods are not finished goods, instead, they are used to make finished goods.

The constant a embodies the effects of all factors other than price that affect demand. If income were to change, for example, the effect of the change would be represented by a change in the value of "a" and be reflected graphically as a shift of the demand curve.

As in the case of aggregate demand, the four components of planned aggregate expenditures are consumption, investment, government purchases, and net exports. Let's consider each. The largest component of planned aggregate expenditures is planned consumption (C).

Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country's economic health.

Gross National Product (GNP) is the total value of all finished goods and services produced by a country's citizens in a given financial year, irrespective of their location. GNP does not include foreign residents' income earned within the country.

In real flow, the household sector being the owners of the inputs supply factor services in the form of raw material, land, labour, capital and enterprise to the firm, and in exchange, the firm provides goods and services to meet the demand of the households.

The primary purpose of social studies is to help young people make informed and reasoned decisions for the public good as citizens of a culturally diverse, democratic society in an interdependent world.

A BEHAVIORAL OBJECTIVE is a way of describing the objectives of a training course in terms of what the trainees should be able to do at the end of that training. A behavioral objective must be stated clearly and precisely so that everyone who reads it will know exactly the desired outcome of the training program. Examples of Behavioral Objectives are the following: the levels are listed in increasing order of complexity, followed by verbs that represent each level. KNOWLEDGE: remembering previously learned facts. APPLICATION: ability to use previously learned material in new and concrete situations.

The components of Makabayan are the following:

· Social studies.

· Technology and home economics and livelihood.

· Music, arts, and physical and health education.

· Values education.

The atmosphere is the thin envelope of gas molecules surrounding the Earth; it is held down by Earth's gravitational pull. The atmosphere is concentrated at the Earth's surface and rapidly thins as you move upward, blending with space at about 100 miles above sea level.

Natural Resources Any material thing of economic value which man did not bring into existence Conservation The wise use of the natural resources so as to produce the maximum benefit for the maximum number of people and for the maximum length of time.

Pangea, also spelled Pangaea, in early geologic time, a supercontinent that incorporated almost all the landmasses on Earth. The land on Earth is constantly moving. Over millions of years, the continents broke apart from a single landmass called Pangea and moved to their present positions.

Price elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price. It is computed as the percentage change in quantity demanded—or supplied—divided by the percentage change in price.

\What is a Web graphic organizer? An idea web is a graphic organizer that is used for brainstorming and helps students organize ideas or concepts. ... This type of organizer is mainly used to help students brainstorm story ideas. For example, a topic is written in the center circle and students write in the details in the surrounding smaller circles.

Mona Liza - 1503-1506, Saint Teresa by Bernini- 1647-1652, The Calling of Saint Matthew- 1599- 1600, Last Supper by Tintoretto - 1592- 159. The idyllic golden age of art takes place around the 17th century.