The study of economics involves three related investigations. 1. Why scarce resources are exchanged? 2. How consumers and producers behave as they interact with each other in markets, in their attempt to achieve mutually beneficial exchange? 3. The role of government in compensating for the limitations of markets in achieving mutually beneficial exchange?
The study of economics involves three related investigations.
1. Why scarce resources are exchanged?
2. How consumers and producers behave as they interact with each other in markets, in their attempt to achieve mutually beneficial exchange?
3. The role of government in compensating for the limitations of markets in achieving mutually beneficial exchange?