Class Room 354 Office Suite B Rm. Click here to view the course calendar. All economies face the common problem of allocating scarce resources among unlimited wants and needs.
Goods are scarce because land, labor, machinery, and other productive resources are scarce.
This forces decisions about how resources are to be used and how the production is to be distributed. Any economic system is a system of choice. We use a mixed economy, heavily rooted in the market system, to make our choices. The subject matter of this course is our market system and the process and mechanism of choice in resource allocation. It will be a big help for learning, quizzes, and exams.