Obshchestvoznanie 8 Ekonomika I Ee Rol V Zhizni Obshchestva Konspekt Uroka Link

The process of creating goods and services (e.g., manufacturing a car).

The central challenge is the and limited resources . This forces society to make an Economic Choice : deciding what to produce, how to produce it, and for whom. 4. Phases of Economic Activity The process of creating goods and services (e

Items and services capable of satisfying human needs (e.g., food, clothing, education). how to produce it

A system of management that ensures the production of material and non-material goods to satisfy human needs. The process of creating goods and services (e

The study of how people use limited resources to satisfy unlimited needs.

The term "economy" (from Greek oikonomia – "household management") is viewed in two ways: