Economic theory simplifies relationships to explain how the relationships interact. Economic models are small-scale versions of the economy. They represent the economy accurately. Economists disagree on most economic issues facing an economy. The economy is a social mechanism that transposes inputs into outputs.
Corporations own a very small percentage of business assets.
The federal government receives most of its revenue from personal income taxes and payroll taxes. A well-functioning market will have high monetary costs applied to high opportunity costs. Given its size, the United States does not have to worry about limitations on resources. Efficiency is defined as the absence of waste. Division of labor allows individual workers more ability to perform a job.