Commodities and resources that we value are limited in supply.
Using the economy's resources as effectively as possible to satisfy people's need and desires.
Commodities and resources that are available without limit.
Goods that we value that are limited in supply.
The branch of economics concerned with the overall performance of the economy.
Branch of economics concerned with the behaviour of individual entities such as markets, firms, and households.
Involves value judgement and ethical precepts about an economy.
Describes the facts and behaviour of an economy.