The Jahnny School Of Business

DID YOU KNOW?

Economics is the science of decision making/choice in a situation of scarcity. Most people think that economics is all about money. It is not true, and economics is a study about how individuals and societies deal with the ideas of scarcity. Economics is divided in to two groups which is macro and micro economics

To start with, Microeconomics is the study of small and individual economic units. It looks at the economic behavior of individuals, firms, small groups, and industries and their decision making.

Secondly, Macroeconomics is looking at the big picture of the economy. It is the study of the large economy as whole or economic aggregates like national income, money, price level, unemployment, economic growth, etc.

Above mentioned micro and macro economics, individuals and countries make decisions based on Scarcity, choice/selection and opportunity cost

Understanding Scarcity

It is the situation of having unlimited wants and limited resources. It refers to the case of excess demand for resources than its supply. If resources were unlimited, there would be no economic problems and no economics.

Understanding Choice/Selection

Limited resources and unlimited demands compel us to go on making choices. The choice is the economic problem that helps us to achieve maximum satisfaction.

Understanding Opportunity Cost

When you make a choice, you give up all the other alternatives that you could have. But at the same time, you cannot have all the things, or you cannot choose all the alternatives that you have made or rank. Making choice means you have done your best decision and if you consider one best thing that you gave up is called opportunity cost. So, it is the most desirable

Economist Dag

10 LESSONS FROM RICH DAD, POOR DAD

1. Manage your money:

Many people are able to make money, but not everyone learns how to manage it properly.

Financial intelligence starts with learning the difference between assets and liabilities.
ensure that you have more money coming in than going out, which is what will make you richer.

2. Pay Yourself First:

Most people earn and spend their salary paying bills.

A rich person always pays himself.

Invest in
- Courses
- Books
- Experiences

3. Saving and investing are different:

Saving is considered a must and a good habit.

You need to invest your money instead where it grows at a higher rate than inflation.

Saving weaken the purchasing power while investment will increase the value of your money.

4. Learn taxes:

If you are rich and lack financial literacy, you will end up paying a lot of taxes.

The rich have their investments often in learning, so they have to pay fewer taxes.

You need to have financial IQ in different areas like accounting, investing, market forces, and the law.

5. Do not rely on a single source of income:

Most people rely on a single source of income.

You can never become rich and financially secure if you are one of those.

You should have 2 to 3 streams from where you earn money.

You will be in better position even if you face some financial crisis if you multiple income streams.

6. you become smarter by taking risk:

Unless you take a risk, you cannot grow, grow as in grow really big.

You should take a risk because some opportunities in life have the potential to change the course of your life.

7. Everyone needs to be a financially literate:

Intelligence solves problems and produces money.

Money without financial intelligence is money soon gone.

The sad part about the education system around the world is that it teaches to work for money.

The system never teaches how to make, manage, and keep the money.

You should learn how to create wealth and make a plan to achieve financial freedom.

8. Mindset is everything:

Poor dad always used to say” we can’t afford this “whereas rich dad teaches him to replace it with “how you can afford it?”.

In This way, replace your negative attitude into positive and you will definitely find ways to do achieve that target.

Your attitude and mindset matters the most.

The first and foremost thing to do anything is that you must believe in yourself.

FOR THE 9TH AND 10TH LESSONS SEE THE FIRST COMMENT.

Health is wealth but if you have to choose,

This is an indirect way of advertising. Who do you think is advertising who amongst the 3
a. ads Lulu & wood
b. Lulu & Wood ads the photograher
c. The photographer ads Nkani
d. Nkani ads The photographer
e. The photographer ads Lulu & Wood
f. Lulu and wood ads Nkani

Elon Musk is a well known billionaire who does not need introduction, especially not in any one of his own companies.
Why did he need a card everyone knows him especially in his company? 🤣🤣

This is called professionalism, Mr. Musk is at work just like everyone else.

Mr. Musk also being the company's King of Engineering it's only right that he leads by example.

Sometimes, we think and say they’re too young for these, but it starts from here. Their developing brains in these golden years(0 to 6) can do far more than we can imagine.

They learn big things playfully. It’s the best time to begin to sensitize, groom and direct them towards the more valuable things in life and most importantly, towards job creation and not job seeking.

That’s the empowerment this next generation needs, and PGEC is leaving no stone unturned at achieving this for our young ones.

Poultry farming was our topic today during practical life lessons. We looked at the natural process of how the egg is laid up to where it hatches.

Precious Gift Educational Centre

OWN things that bring you MONEY!

Real Estate also known as Realty is
Property that cannot easily be moved, usually land, buildings and the ground they are built.

Alex Hannold, a Rock Climber says

"For most climbing, you fail all the time. So you have to take this broader look at how you define success and failure. As long as you are building fitness, building skills, learning from it- that's all success."