What do we do here?

Greetings,

I have noted that many people who join the forum do so to gain a biblical understanding of government and political science even though they admittedly do not know much about them to start with. I am pleased with this. It fits in with what the purpose of the forum is in essence: to help Christians realize how a government ought to function biblically. So, I have constructed this section of the forum with newbies to governmental and economical theory to ask questions and for us to post articles defining what the basic terms of economics are.

So feel free to ask questions. We will not tease too much.

With joy and peace in Christ,
Jay Lauser

Well, I'm not much of a new-be, but I know nothing about economics except that it has to do with the economy which effects money, value, and prices. So, any definitions would be great.

To God be the glory,
-Caleb

Definitions of what? If I know what to define I would be glad to help.

In Christ,
Peter G.

Peter G. wrote:

Definitions of what? If I know what to define I would be glad to help.

In Christ,
Peter G.

Well, since I don't know any terms in economics, I wouldn't know. I guess the most common or important terms used in economics which would be beneficial to understanding what economics is and how it works. Though, that's pretty hard to pinpoint or explain I'm sure. I'm so oblivious to this important aspect of government that it's hard for anyone to help me. I guess I'll wait to take a course on it this year. But, if you do think of a term, feel free to define it.

To God be the glory,
-Caleb

I'll just throw out some terms, and others (as well as myself will define them as we go on, and I will continue to add to them as I find the time) Here we go. :

Economics

Insatiability

Scarcity

Economic Cost

Goods

Services

Economic Goods

Economic Services

Nuisance Goods and Services

Recycling

Free Goods

Free Services

Diamond-Water Paradox

Intrinsic Value

Utility

Opportunity Benefit

Opportunity Cost

Util

Microeconomics

Macroeconomics

Positive Economics

Normative Economics


Here are just some words from my Economics book by Bob Jones University. (First Chapter's list of words) When we get through these, I'll post some more. (and I'll also post the word's definitions that are in the book from a Christian's perspective I believe anyway. So get cracking!

In Christ,
Peter G.

I do not think we need to define all those, but a few simple introductory definitions are in order.

Economics: the study of the way things influence the market. Simple.

Market: the exchange of goods or services among people.

Questions?

Well, Caleb did ask for several terms regarding economics, and these are pretty elementry (or starter words) that he should learn.

As for the definition of economics, I would propose:

Economics-The common sense science of how and why people, businesses, and governments make the choices they do.

Any questions?

In Christ,
Peter G.

Peter G. wrote:

Well, Caleb did ask for several terms regarding economics, and these are pretty elementry (or starter words) that he should learn.

As for the definition of economics, I would propose:

Economics-The common sense science of how and why people, businesses, and governments make the choices they do.

Any questions?

In Christ,
Peter G.

I would start with rent, profit, wages, etc. Very basic for those who are not going into economics as a career.

Well, we basically gave the same definition, except that yours includes psychology and morality, and does not mention the market, which is what economics is all about.

Goods and services are very basic. I'm not going to debate with you about what words are more important then others. Its off topic.

And then again, it deals with markets if that is how you define it. And I took that definition straight from the Bob Jones textbook. So that's how I learned it. And if you want, I can explain why they said what they said.

In Christ,
Peter G.