Economic Systems

Abstract

Economics helps us to understand the nature and organization of societies, the arguments underlying many of the great public issues of the day, and the operation and behavior of business firms and other economic decision- making units. To perform effectively and responsibly as citizens, administra- tors, workers, or consumers, most people need to know some economics. In order to answer the question of whether physical methods and ideas may be helpful to solve economic problems, we must specify the scope of economic science.