1. 0 Introduction Economics involves the options people make when complementing their unlimited needs and wants with a scarcity of resources. The term "economics" comes from the Greek words "oikos", this means house, and "nomos", this means manager. Therefore the term originally referred to management of family members. Today, the word has been broadened to make reference to firms and most of society. Another way of looking at economics is to consider the field as a couple of tools for studying people and communities and the options that they make. Accountants are trained to render an account of financial activity for a firm. Lawyers are trained into a certain method of thinking in order to handle issues in a legal construction.