Back Goods and Services Goods and services are both useful to people. Goods are things people can touch and feel such as groceries, toys, and computers. Services are not physical things. Instead, people provide services to other people, through activities such as waiting tables, carrying bags, or programming computers to respond to requests for information. Markets A market is a physical location such as a shopping district in a town or state, or a mechanism such as telephones, the telegraph, or the internet which brings buyers and sellers together.
Markets serve local, regional, national, or global regions.
Laws A rule regulates society by providing a framework for correct conduct or action. Rules can be dictated, suggested, or self-imposed. A law is a regulation or custom which is formally recognized as binding by a controlling authority, and implies the obligation of obedience on the part of all subjects to that authority. Back Authority Figures Authority figures set standards, enforce the law, or maintain social order in the absence of laws. Most people respect authority and comply with the written or spoken rules.