CMNS 240 Chapter Notes - Chapter 1-1: Gross Domestic Product
19 Sep 2016
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Document Summary
The building blocks from which the most complicated economic theories are constructed. We need to organize and perform our work (production) And then we need to divide up the fruits of our work (distribution) The economy is a fundamentally social activity. Capitalist economy is not individualistic at all. Our economic lives are increasingly intertwined with each other, as we each play our own little roles in a much bigger picture. Economy is a dominant force in human development. The economy us to meet our material needs. We will understand a great deal about history, our current social reality, and our future evolution as a species, when we understand more about economics. Economics us the study of human economic behaviour: the production and distribution of the goods and services we need and want. Economics is the science which studies human behaviour as a relationship between given ends and scarce means which have alternative uses.
