《旅游管理专业英语（第二版）段开成》Lesson 13.pptVIP

Tourism EconomicsLesson 13 Contents ContentsTHE END 1. Definition Economics may be defined as a social science that seeks to understand the choices people make in using their scarce resources to meet their wants. Scarce The basic problem on which classical economic theory is built: simply, that human wants will always exceed the resources available to fulfill those wants. 2. Factors of Production Labor Labor is the contribution to production made by people working with their minds and bodies. Capital Capital includes all the productive inputs created by people, including tools, industri