A nation will not serve morally or economically when so few have so much, while so many have so little. – Bernie Sanders
Creating, Influencing, Informing, Applying and Explaining are the terms which represent Economics. Economics is a term which is not only related to money rather it involves making choices. It is the science that deals with the study of human behavior as a relation to given ends and scarce means which have alternative uses. It is a branch of knowledge that deals with how the people in the society allocate the limited resources in nature to satisfy their needs and wants.
A market economy can be defined as an economy where the law of demand and supply influence the production of goods and services. It is an economy where economic decisions and pricing of goods are done by the interaction of producers and consumer who can transact freely.
Government performs a very important role in the market economy. Some of the roles can be discussed as:
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