Introduction & Chapter 1 | CB2: Business Economics | IFoA | IAI | By Shivangee Agarwal скачать в хорошем качестве

Introduction & Chapter 1 | CB2: Business Economics | IFoA | IAI | By Shivangee Agarwal

This video discusses the correct manner for approaching the classes and the course, along with the Exam paper pattern for both the IFoA and IAI. It introduces viewers to the basic concepts of Business Economics, covering different economic systems around the globe and the various efficiencies to be achieved. The Production Possibility Curve (PPC) and its nature and shape are discussed in detail. The Circular Flow of Income and its components—the Goods Market and Factor Market—are also explained. 0:00 Start 0:27 Tips for the classes 2:40 Overview of the Subject 7:00 Exam paper pattern 14:26 Economic Concepts 16:38 Problem of Scarcity 20:31 Command Economic System 21:02 Free Market Economic System 22:09 Mixed Economic System 23:25 Productivity Efficiency 24:22 Allocative Efficiency 24:55 Economic Efficiency 25:35 Opportunity Cost 36:00 Choices we make 38:42 Circular Flow of Income 42:34 Production Possibility Curve (PPC) 51:42 Shape of PPC 58:20 Shift of PPC 1:01:33 How to allocate resources in different economies 1:07:00 Factor market and goods market #CB2 #BusinessEconomics #EconomicConcepts #Scarcity #EconomicSystems #Efficiency #ProductiveEfficiency #AllocativeEfficiency #EconomicEfficiency #OpportunityCost #Resources #Choices #CircularFlowofIncome #ProductionPossibilityCurve #PPC #FactorsofProduction #FactorMarket #GoodsMarket