what is economics in real life 
all of us participate in economies we contribute something to the whole by producing or helping to produce a product or offering a service in return we receive money that allows us to buy the goods and services that we can t produce for ourselves the bottom linean economy is system of production and consumption activities that determine the allocation of limited resources every individual within an economy contributes to it in some form in return each expects a share of the goods and services provided by other members of the community 