It's the Economy, Stupid
It's not about affection, but economics is the study of these three choices individuals and societies make concerning goods.
production, distribution, consumption
wrote The Wealth of Nations in 1776
Adam Smith
It's the type of economy specifically directed by the government
command economy
material items that people expect to pay for
goods
This term refers to the fact that some day, in the not-so far off future, one of our fine Econ students of SCA may risk it all to manage their very own biz.
entrepreneur
study of specific components with a major economy
microeconomics
"Makin' bacon and gunpowder since 1804" could have been the business slogan for this entrepreneurial immigrant
E.I. du Pont
"Let things along", come on man, stop trying to interfere with the economy brah, is this French phrase
laissez-faire
Economists who desired to see nations get wealth via gold and silver accumulation follow this principle
mercantilism
It's the concept that Colonial people ranted about, feeling their were established for the sole purpose of benefiting the stinking mother land!
imperialism
Not a "super" one, but this one seeks to show the relationships between many components of an economy
economics model
Founder of the Austrian school of econ
Carl Menger
In this economy, you can't "see" the "hand"
free market economy
the worth that consumers attach to a good
value
All people rant about wanted and using goods, they are said to be known as this.
consumers
The place were people exchange goods, both in person or online.
market
Adam Smith believed in this idea for the separation of work into individualized tasks
division of labor
Type of economy directed by old habits and customs
traditional economy
This type of good is your trusty, dusty home computer, laptop, or VCR (what's that??)
consumer
He's the executive director of ODACS, some people are comfortable enough to be on a first name basis with him.
Dan Zacharias
"It's the Economy, Stupid" was the slogan of this successful presidential campaign
Bill Clinton, 1992
Bros who own a share or all of a biz that produces goods
capitalist
The type of good that a forklift is that transports imported goods within a warehouse.
capital
Along with limited government, freedom of enterprise & competition, this is a major reason for the prosperity and efficiency of a free market economy
property rights
Is the value related to any good that is directly related to these two things
scarcity and utility