The study of the process of producing and distributing goods and services, and how this process relates to buying, selling, and making a profit in a society is called economics. Economics also explores the role of the government in regulating such business activities and examines how the government acquires and distributes wealth. In this chapter you will learn about the themes of production, distribution, and consumption by studying the following concepts: - economic systems
- the development of the modern economy
- supply and demand
- measures of economic activity
- the business cycle
- the role of government in the economy
- financial institutions
- personal finances
- distribution of wealth
- economic development
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2002 McGraw-Hill Higher Education