Changes

[[Image:NYSE-floor.jpg|right|thumb|Face-to-face trading on the [[New York Stock Exchange]]'s trading floor.]]

[[Image:NYSE-floor.jpg|right|thumb|Face-to-face trading on the [[New York Stock Exchange]]'s trading floor.]]

'''Economics''' is the study of opportunity.  More specifically, economics is the study of the opportunities made possible by the transfer of [[goods]] and services. 'Because of its primary application to government policy, it is understandable why the subject was originally known as political economy, which was its name from the time of [[Adam Smith]] to the last quarter of the nineteenth century, when the change to "economics" took place.' [http://www.capitalism.net/Capitalism/Economics%20and%20Capitalism.htm]

'''Economics''' is the study of opportunity.  More specifically, economics is the study of the opportunities made possible by the [[production]], [[distribution]], and [[consumption]] of [[goods]] and [[services]]. 'Because of its primary application to government policy, it is understandable why the subject was originally known as political economy, which was its name from the time of [[Adam Smith]] to the last quarter of the nineteenth century, when the change to "economics" took place.' [http://www.capitalism.net/Capitalism/Economics%20and%20Capitalism.htm]

Economics attempts "to explain the way in which individuals interact with one another, to use their limited resources to satisfy their alternative ends." [http://www.pbs.org/wgbh/commandingheights/shared/minitext/int_miltonfriedman.html#10]

Economics attempts "to explain the way in which individuals interact with one another, to use their limited resources to satisfy their alternative ends." [http://www.pbs.org/wgbh/commandingheights/shared/minitext/int_miltonfriedman.html#10]

It is a social [[science]], concerned with how people produce, distribute, and consume.   

It is a social [[science]], concerned with how people produce, distribute, and consume.