An economic taxonomy is a system of classification of economic activity, including products, companies and industries. Some economists believe that the study of economic policy demands the use of a taxonomic/classificatory approach.What are the terms of Economics?
Economics is the academic study of the production, distribution, and consumption of goods and services. Economics can be broken down into two main disciplines: macroeconomics and microeconomics. Macroeconomics deals with the behavior of economies on a large scale, usually the economies of countries or regions.What are key economic terms?
Economics Key Terms. the study of how people try to satisfy what appears to be seemingly unlimited an completing wants through the relative use of scarce resources.