The study of the national economy.

The study of economics within a small firm or specific market

A social science that studies the production, distribution or consumption of goods or services.

The action of making or manufacturing components.

Customer-satisfying goods made from free resources that don't impose an opportunity cost on society.

Goods that satisfy the needs and wants of people directly

The wants and needs of society are endless but the resources to satisfy these are finite.

Where both market forces and government determine which goods and services are produced and how they are distributed.

A concept where individuals shouldn't own land/firms/capital but the whole community should.

A subjective statement that carries value judgements.