1. Every group of people must solve
three main problems: what
goods and
services to produce, how
to
produce them and for whom to produce them.
2.
economics is placed among the social sciences.
3. Markets in which there is no
government intervention are called free
markets.
4. Society allocates resources into production
through the price system.
5. There are no government
restrictions and
regulations in a free
market economy.
6. M
ixed economy is an economy in which the government and private
sector cooperate in solving economic problems.
7. Government regulations and restrictions must
both work in the
interests of society.
8. People produce
goods and
services.
The former are
produced in factories or on farms, the latter - at schools, hospitals, shops,
banks.