Most people work to earn a living, and produce goods and services. Goods are either agricultural (like maize), or manufactured (like cars). Services are such thing as education, medicine, and commerce. Some people provide goods; some provide services. Other people provide both goods and services. For example, in the same garage a man may buy a car or some service which helps him maintain his car.

The work people do is called economic activity. All economic activities take together make up the economic system of a town, a city, a country or the world. such an economic system is the the sum-total of what peiple do and what they want. he work people do either provides what they need or provides the money with which they can buy essential commodities. of course, most people hope to have enough money to buy commodities and services which are non-essential but which provide some particular personal satisfaction, such as toys for children, visits to the cinema, and books.

The science of economics is based upon the facts of our everyday lives. Economist study our everyday lives and the general life of our communities in order to understand the whole economic system of which we are part. they try to describe the facts of the economy in which we live, and to explain how it works. the economist's methods should of course be strictly objective and scientific.

We need food, clothes, and shelter. We probably wouldn't  not go to work if we could satisfy these basic needs without working. But even when we have satisfied such basic needs, we may still want other things, such as the toys, visit to the cinema and books mentioned above. Our lives might be more enjoyable if we had such things. Human beings undoubtedly have a wide and very complex range of wants. The science of economics is concerned with all our needs with the desire to have a radio as well as the basic necessity of having enough food to eat. (Taken from A Rapid Course in English for Students of Economics by Tom McArthur)

1. Most people work to earn a living, and produce goods and services.
2. Most people produce goods and services
3. An economic activity is the work people do. The work people do either provides what they need or provides the money with which they can buy essential commodities.
4. Toys for children, visit to the cinema, books, and delicious foods
5. The science of economics  is based upon the facts of our everyday lives
6. They should study our everyday lives to understand the whole economic system
7. They try to describe the facts of the economy in which we live, and try to explain how it works
8. We need the basic needs, but even we have satisfied our basic needs, we will still want other things-- the non essential one.
9. Our basic needs are food, clothes, and shelter
10. That means even human have satisfied their basic needs, they still still want other things, the non-essential one. Because they feel their lives might be more enjoyable if they have such things. "One is never enough"

Welcome! This is my new blog. Something's wrong to the old one, so I try to move everything here. Enjoy!

I'm a student of


✖ You can look up the collection at our library
✖ Or searching some information on BAAK
✖ If you're a student there already, you can access the Studentsite with your ID