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...Tm introduction thomson learning ten principles of economics the word economy comes from greek for one who manages a house hold at first this origin might seem peculiar but in fact households and economies have much common ahousehold faces many decisions it must decide which members do tasks what each member gets return cooks dinner does laundry extra dessert to choose tv show watch short household allocate its scarce resources among various taking into account s abilities efforts desires like society jobs will be done them needs some people grow food other make clothing still others design computer software once soci ety has allocated as well land buildings machines also output goods services that they produce eat caviar potatoes drive ferrari take bus part management is important because are scarcity means limited therefore cannot pro nature duce all wish just give every everything he or she wants indi vidual highest standard living aspire economicsis study how most so cieties not by...