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Definition
| is the study of how society chooses to employ resources to produce goods and services and distribute them for consumption among various competing groups and individuals. |
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Definition
| looks at the operation of a nations economy as a whole. For an example, Gross Domestic product (GDP), unemployment rate, and price indexes. |
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Definition
| looks at the behavior of people and organizations in markets for particular products or services. |
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Term
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Definition
| is the study of how to increase resources ( say, by getting oil from shale and tar sands) and create conditions that will make better use of them ( like recycling and conservation). |
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Term
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Definition
| to describe the process that turns self-directed gain into social and economic benefits for all |
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Term
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Definition
| an economic system in which all or most of the factors of production and distribution are privately owned and operated for profit |
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Term
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Definition
| the quantity of products that manufacturers or owners are willing to sell at different prices at a specific time |
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Term
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Definition
| the quantity of products that people are willing to buy at different prices at a specific time |
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