In studying the performance of an economy, economists focus on the policies that affect this performance.
Policy is a set of rules and regulations which decision-makers establish to achieve a stated goal.
Policy-makers and their policies can be said to have succeeded only if the observed outcome is the desired goal. The Decision Makers Decision makers are the individual or individuals who formulate the policies to achieve society's goals. There is no right or wrong presumption of the best decision maker. The people collectively determine who will be the decision makers. The Means Means are the resources which society has available at the current time to use toward the achievement of its goals.